The central government has slashed import duty on several key components used in the production of mobile phones in a bid to boost the country’s electronics exports, the Union Ministry of Finance announced.
This move announced by the Finance Ministry in a notification late Tuesday, is expected to positively impact the mobile phone sector, encouraging growth and improving competitiveness on a global scale.
The import duty has been reduced from 15 per cent to 10 per cent for screw, SIM socket, or other mechanical items of metal for cellular mobile phone; battery cover, front cover, middle cover, main lens, back cover, GSM antenna/antenna of any technology, PU case/sealing gasket – other articles of polyurethane foam like sealing gaskets/case, sealing gaskets/ cases from PE, PP, EPS, PC and all other individual polymers or combination/combinations of polymers, and other mechanical items of plastic.
The notification on this late on Tuesday
The other items that are set to attract a lower import duty are conductive cloth, LCD conductive foam, LCD foam, BT foam, heat dissipation sticker battery cover, sticker-Battery slot, protective film for main lens, mylar for LCD FPC, film-front flash, and side key for use in manufacture of cellular mobile phones.
As part of its Atmanirbhar and Make in India plan, the government launched production incentive (PLI) schemes in varied sectors, including electronics, to make Indian manufacturers globally competitive, attract investments, enhance exports, integrate India into the global supply chain and reduce dependency on imports.
The telecom industry in India has become investment-oriented and an employment generator and exports of mobile are estimated to have exceed USD 10 billion in the financial year 2022-23.
Electronics is one of the fastest-developing industries globally. Electronic products have significantly impacted and shaped the lifestyle of the people of India in the digital world. The digital push stimulated by the Covid-19 pandemic is expected to fuel the demand for electronic devices worldwide. (ANI)
