New Delhi: In a significant move to benefit consumers, the Finance Minister announced a reduction in customs duty on mobile phones, mobile PCBAs, and mobile chargers to 15 per cent. This decision comes on the heels of a remarkable three-fold increase in domestic production and an almost 100-fold surge in mobile phone exports over the last six years, signaling the maturation of the Indian mobile phone industry.
Highlighting the proposal in the latest budget, the Finance Minister emphasized that the reduction in customs duty is aimed at making mobile phones more affordable for consumers. “With the industry’s impressive growth, it is essential to pass on the benefits to the end-users,” the Minister stated.
Furthermore, to boost value addition within the domestic electronics sector, the government plans to remove customs duty on oxygen-free copper used in the manufacture of resistors, subject to certain conditions. Additionally, an exemption will be provided for specific parts used in the manufacture of connectors, fostering further growth in the domestic manufacturing landscape.
In a bid to incentivize domestic manufacturing even further, the Finance Minister proposed an increase in customs duty on PCBAs of specified telecom equipment from 10 to 15 per cent. This measure aims to encourage local production and reduce reliance on imports, thereby strengthening the domestic supply chain.