The government has reduce the import duty on important elements utilized in mobile phone manufacturing as half of a strategic transfer to enhance export actions. The finance ministry introduced the discount in import duty charges from 15 per cent to 10 per cent by way of a notification on Tuesday.
The revised fee of 10 per cent is relevant to vital elements utilized in mobile phone meeting, together with battery covers, most important lenses, again covers, and different mechanical gadgets made of plastic and steel.
The Indian Cellular and Electronics Association (ICEA) Chairman, Pankaj Mohindroo, stated this can be a vital coverage intervention by the government in the direction of making mobile manufacturing aggressive in India.
“Electronics has improved from the 9th position a few years ago to India’s 5th largest export in 2024. Mobiles constitute over 52 per cent of electronics exports thanks to the Production-Linked Incentive Scheme. This is the first industry to leapfrog from import substitution to export-led growth within the last 8 years,” Mohindroo stated.
This resolution is in step with earlier experiences from the month, indicating that India was contemplating reducing import duties particularly on elements essential for the manufacturing of high-end mobile telephones. The discount in import duties is anticipated to have a constructive affect on the mobile phone trade, fostering progress and enhancing competitiveness within the world market.
(With company inputs)
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