customs duty

India’s proposal to the World Trade Organization’s (WTO) 13th ministerial conference to refrain from extending a moratorium on imposing customs duties on electronic transmissions would impact the semiconductor design ecosystem in India, industry bodies told ET.The moratorium expires in February-March this year. WTO members had agreed against imposing customs duties on electronic transmissions since 1998 and the moratorium has been periodically extended at successive ministerial conferences, which is the highest…

India expects to manufacture more mobile phones this year after the government eliminated import tariffs on some components used to assemble high-end phones from global companies such as Apple Inc , a tax official told Reuters on Friday. Indian mobile phone exports nearly doubled year-on-year to $5 billion between April-October in 2022, primarily supported by the government's key scheme to offer incentives to local manufacturers. At the annual budget for 2023/24 on Wednesday, Finance Minister Nirmala Sitharamam…