The government has proposed reducing the import duty on mobile phones, chargers, and certain components used in handset manufacturing in the Union Budget for the fiscal year 2024-25.
Finance Minister Nirmala Sitharaman announced that, due to a threefold increase in domestic production and a nearly 100-fold surge in mobile phone exports over the past six years, the Indian mobile phone industry has matured.
She proposed lowering the basic customs duty (BCD) on mobile phones, mobile PCBA, and mobile chargers to 15%.
The Mobile phone industry body ICEA welcomed the proposal, noting it will boost India’s export competitiveness.
ICEA chairman Pankaj Mohindroo expressed satisfaction, stating that the reduction in BCD will benefit manufacturing, exports, and overall competitiveness in the mobile and electronics sector.