government cuts import duty phone parts 10 percent apple xiami india manufacturing apple

Indian government has cut the import duty on some parts used in making mobile phones to 10 percent from 15 percent, a move benefiting companies like Apple and Xiaomi that manufacture in Asia's third-largest economy.The import duty on parts such as battery covers, main camera lenses, back covers, other mechanical items of plastic and metal, GSM antenna, and other parts, has been reduced to 10 percent, the finance ministry said in a notification late on Tuesday.The import duty on inputs used to manufacture these components…