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Customs duty exemption on lithium, cobalt to aid growth of EVs
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Customs duty exemption on lithium, cobalt to aid growth of EVs

The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 may lower battery production cost and help in making electric vehicles more affordable for buyers, auto industry leaders said. Finance Ministe...

The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 may lower battery production cost and help in making electric vehicles more affordable for buyers, auto industry leaders said. Finance Minister Nirmala Sitharaman while presenting the Union Budget for 2024-25 proposed to fully exempt customs duties on 25 critical minerals and reduce Basic Customs Duty (BCD) on two of them. This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors, she noted. Minerals such as lithium, copper, cobalt and rare earth elements are critical for sectors like nuclear energy, renewable energy and high-tech electronics, Sitharaman stated.

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Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

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Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

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Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

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