{"id":1278486,"date":"2024-02-02T08:40:20","date_gmt":"2024-02-02T03:10:20","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1278486"},"modified":"2024-02-02T08:40:42","modified_gmt":"2024-02-02T03:10:42","slug":"mobile-phones-will-become-cheaper-after-govt-reduces-import-duties-by-33-for-some-components","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/mobile-phones-will-become-cheaper-after-govt-reduces-import-duties-by-33-for-some-components\/","title":{"rendered":"Mobile Phones Will Become Cheaper After Govt Reduces Import Duties By 33% For Some Components"},"content":{"rendered":"\n

India’s Finance Ministry has reduced import duties on select components used in mobile phone manufacturing from 15% to 10%. This applies to items like SIM sockets, screws, batteries and charger covers, front\/back panels, camera lenses, antennas and other mechanical plastic\/metal parts.<\/p>\n\n\n\n

\"Mobile<\/figure>\n\n\n\n

Additionally, duties were removed<\/a> entirely on few other products including sponges, adhesives etc required for assembly operations. The move aims at strengthening domestic production by eliminating duty inversions caused via recent trade agreements.<\/p>\n\n\n\n

To Benefit Local Manufacturing, Lower Prices<\/strong><\/p>\n\n\n\n

The duty restructuring promises improved cost competitiveness and policy consistency that boosts export-oriented growth within India’s fast expanding mobile manufacturing system, as per officials and industry associations.<\/p>\n\n\n\n

While exact implementation timelines remain unclear, the rationalization was hailed for removing ambiguities in customs processes and associated uncertainties previously. With localized supply chains set to gain, analysts believe mobile phone prices could also marginally fall or remain stable absorbing input tax changes.<\/p>\n\n\n\n

Electronic Goods Exports Target at $120 Billion<\/strong><\/p>\n\n\n\n

The strategic policy shift ties into the larger aim of catalyzing India’s electronics exports to hit $120 billion by 2026. With the sector clocking robust 46% expansion last fiscal, additional government incentives around associated supply chain localization and export-friendly processes will further national ambitions.<\/p>\n","protected":false},"excerpt":{"rendered":"

India’s Finance Ministry has reduced import duties on select components used in mobile phone manufacturing from 15% to 10%. This applies to items like SIM sockets, screws, batteries and charger covers, front\/back panels, camera lenses, antennas and other mechanical plastic\/metal parts. Additionally, duties were removed entirely on few other products including sponges, adhesives etc required […]<\/p>\n","protected":false},"author":30,"featured_media":1278488,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[289,2263],"class_list":["post-1278486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-import-duty","tag-mobile-phones"],"acf":[],"yoast_head":"\nMobile Phones Will Become Cheaper After Govt Reduces Import Duties By 33% For Some Components - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/mobile-phones-will-become-cheaper-after-govt-reduces-import-duties-by-33-for-some-components\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mobile Phones Will Become Cheaper After Govt Reduces Import Duties By 33% For Some Components - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"India’s Finance Ministry has reduced import duties on select components used in mobile phone manufacturing from 15% to 10%. 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