Modi government's gift! Now expensive smartphones will become cheaper.

WhatsApp Channel Join Now
Telegram Group Join Now
WhatsApp Channel Join Now


,

The government has reduced import duty on key parts of mobile phones to promote local manufacturing in India. Smartphone brands are already investing heavily in local manufacturing under the government's 'Make in India' initiative. At the same time, after this step of Modi government, it is believed that the prices of smartphones in the country may also reduce. This cut has come just a day before the Union Budget 2024, which is a big thing.

Import duty reduced on major parts of mobile phones

Import duty on major parts of mobile phones has been reduced from 15 percent to 10 percent. It includes many parts used in mobile phone manufacturing like- battery cover, front cover, middle cover, main lens, back cover, GSM antenna, PU case, sealing gasket, SIM socket, screws, plastic and other metal items. . As far as import duty on inputs used in the manufacturing of these goods is concerned, it has been reduced to zero.

This relief comes amid the industry's long-standing demand for lower duty on imports of inputs used in mobile phone manufacturing. The India Cellular and Electronics Association (ICEA) earlier this month had suggested the government to zero out imports on mobile phone components. This includes PCBA parts, camera modules, and connectors.

“This is an important and welcome policy intervention by the government towards making mobile manufacturing competitive in India. ICEA President Pankaj Mohindroo said, building scale and riding on low input tariffs is poised to transform India into a global hub for electronics manufacturing and exports.

According to ICEA, India has the potential to increase mobile phone exports to $39 billion over the next two years from $11 billion in FY23. It has been suggested that this would result in lower import duties on components and zero for some of them. This will also help India compete against top exporters, China and Vietnam


WhatsApp Channel Join Now
Telegram Group Join Now
WhatsApp Channel Join Now

Leave a Comment