NEW DELHI: India has minimize the import obligation on some components used for manufacturing of cell phones to 10% from 15%, a transfer benefiting corporations like Apple and Xiaomi in manufacturing in Asia’s third-largest economic system.
The import obligation on components comparable to battery covers, principal digital camera lens, again cowl, different mechanical objects of plastic and metallic, GSM antenna, and different components, has been decreased to 10%, the finance ministry stated in a notification issued late on Tuesday.
The import obligation on inputs used to fabricate these elements has been minimize to zero, the notification stated.
“Duty cuts on import of mobile phone parts would help big global manufacturers to set up large scale mobile assembly lines in India, and substantially increase exports of mobile phones,” stated Rajat Mohan, a director at tax consultancy agency MOORE Singhi.
Earlier this month, Reuters reported that India was contemplating import obligation cuts on key elements for producing high-end cell phones.
The transfer will make India’s cell phone manufacturing extra aggressive, the India Cellular and Electronics Association (ICEA) stated in a press release.