LED TVs Will Become Cheaper As Import Duty Removed By Govt; TV Makers Are Happy!
We have great news for manufacturers of television sets – import duty on open cell LED TV has been discarded!
This means there will be a definite boost in sales as manufacturing costs will be lessened due to this great decision by the Indian Government.
That this decision comes ahead of the festive days is just another cherry on top!
The import duty levied on the cells that are used in LED and LCD TVs was received by TV manufacturers with much disapproval and resentment.
It also hampered the movement of Make In India that has been spreading in India which promotes the use and application of home-grown products.
For more details, read on!
Import Duty On LED TV Panel Scrapped By The Government Of India
The Finance Minister declared that the open cells used in manufacturing TVs will now have no import duty. These cells had a previous import duty of 10%, which was later reduced to 5%. And now, it has been reduced to a full 0%!
For those who don’t know, these open cells make up for as much as 65% cost of an LED or LCD TV. Now that these panels are duty-free, they will cost less for the manufacturers and in turn result in cheaper costs for us consumers.
Apparently, the government has removed the import duty on the cells in order to breathe new life into the Make In India movement which lost its hype due to the same. The Government is now trying to promote in-house manufacturing of television sets.
TV Manufacturers Happy With The Decision!
This decision has been received with joy and delight throughout the country by television manufacturers and dealerships too! This means that dealerships can persuade their customers to go for bigger and better TVs.
Kamal Nandi, President – Consumer Electronics and Appliances Manufacturers Association (CEAMA) said, “The reduction in open cells duty will help in arresting this and thereby safeguard investments made in India by providing a level playing field for domestic manufacturers.”
Pankaj Mohindroo, Chairman, India Cellular and Electronics Association (ICEA) said, “This change in duty structure will also make imports competitive since zero duty from ASEAN under FTA was in competition with the general duty of 5 per cent.”
Is This Why Samsung Stopped TV Production In India?
In September of 2018, we reported that Samsung had discontinued the manufacturing of TV production in India and shifted to Vietnam instead.
The popular electronics magnate had declared this in spite of having a factory up and running in Chennai. The reason behind this was the increased import duty on the manufacturing components of TV sets.