India has scrapped import duties on some parts used to make mobile phones and other electronic devices, removing the current 7.5% and 5% levies. This move could help companies like Apple and Xiaomi.
Details of the Exemption
The exemption includes key parts for producing wireless charging modules for mobile phones, displays for medical devices and automobiles, and lithium-ion cells. The exemption will be valid until March 31, 2029.
According to Manoj Mishra, a partner at business consultancy Grant Thornton Bharat, this should boost cost competitiveness, domestic value addition, and localisation of high-value smartphone and electronics manufacturing.
India aims to expand electronics manufacturing to $500 billion by fiscal year 2030. Smartphone production in India rose 28-fold over the last decade to 5.45 trillion rupees ($57 billion) in 2024/25.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
