India's Finance Ministry has decided to reduce the import duty on certain smartphone parts to 10%. The move comes amid India's continuous growth in smartphone exports across the globe. India is now the 5th largest exporter of electronics in the world, moving up from 9th, with smartphones accounting for nearly 52% of shipments.
Boost for 'Made in India': Govt cuts import duty on mobile phone components to 10% | CNBC TV18
The decision to reduce import duty on smartphone parts should help companies like Apple and Xiaomi that assemble their smartphones in India and OEMs may choose to pass on the benefit to consumers.
According to an official notification from the Ministry of Finance, the import duty on several smartphone parts has been reduced from 15% to 10%. It includes components such as battery cover, front cover, center cover, main lens, rear cover, GSM antenna/antenna of any technology, PU case/sealing gasket –
Other items of polyurethane foam such as gaskets/cases, gaskets/cases of PE, PP, EPS, PC and all other individual polymers or combinations/combinations of polymers, SIM socket, screw and other plastic/metal mechanical items.
