NEW DELHI, Jan 31: India has slashed the import duty on spare parts used in mobile phone manufacturing to 10 per cent, from 15 per cent, a move aimed at boosting local production and exports.
The finance ministry on January 30, notified the cut in duty on imports of components including screw, SIM socket, or other mechanical items of metal for cellular mobile phone.
The Indian Cellular and Electronics Association (ICEA) Chairman Pankaj Mohindroo said this is a critical policy intervention by the government towards making mobile manufacturing competitive in India.
“Electronics has improved from the 9th position 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 out of import substitution to export-led growth within the last 8 years,” Mohindroo said. |
