Smartphone prices may reduce in India as government cuts down import duty on mobile parts
Import duty slashed for key mobile phone parts
The import duty on key mobile phone parts has been reduced from 15 percent to 10 percent. This covers the following parts used in mobile phone manufacturing — battery cover, front cover, middle cover, main lens, back cover, GSM antenna, PU case, sealing gasket, SIM socket, screw, other mechanical items of plastic and metal. As for the import duty on inputs used to manufacture these goods, it has been reduced to zero.
The relief comes amid the industry’s longtime demand for lower duties on imports of inputs used in the manufacturing of mobile phones. The India Cellular and Electronics Association (ICEA) had made suggestions to the government earlier this month, to reduce imports on mobile phone components to zero. This includes parts of PCBA, camera module and connectors.
“This is a critical and welcome policy intervention by the government towards making mobile manufacturing competitive in India. Building scale and riding on low input tariffs are key to transforming India into a global hub for electronics manufacturing and exports,” said Pankaj Mohindroo, Chairman of ICEA.
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’s suggested that this would happen as a result of reduced import tariffs on components, and zero for some of them. It would also help India compete against the top exporters, China and Vietnam.
Import duty slashed for key mobile phone parts
The import duty on key mobile phone parts has been reduced from 15 percent to 10 percent. This covers the following parts used in mobile phone manufacturing — battery cover, front cover, middle cover, main lens, back cover, GSM antenna, PU case, sealing gasket, SIM socket, screw, other mechanical items of plastic and metal. As for the import duty on inputs used to manufacture these goods, it has been reduced to zero.
The relief comes amid the industry’s longtime demand for lower duties on imports of inputs used in the manufacturing of mobile phones. The India Cellular and Electronics Association (ICEA) had made suggestions to the government earlier this month, to reduce imports on mobile phone components to zero. This includes parts of PCBA, camera module and connectors.
“This is a critical and welcome policy intervention by the government towards making mobile manufacturing competitive in India. Building scale and riding on low input tariffs are key to transforming India into a global hub for electronics manufacturing and exports,” said Pankaj Mohindroo, Chairman of ICEA.
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’s suggested that this would happen as a result of reduced import tariffs on components, and zero for some of them. It would also help India compete against the top exporters, China and Vietnam.
Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.