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Duty Cut on Smartphone Parts to Hit Electronics Ecosystem, Jobs
Hindustan Times West UP
|January 08, 2025
Any reduction in the customs duty on smartphone parts in the forthcoming budget will harm India's developing component ecosystem, discourage investment, increase imports, and make local firms uncompetitive, potentially resulting in job losses, think tank GTRI said on Tuesday.
NEW DELHI:
India's smartphone industry is a 'Make in India' success story, with 2023-24 production reaching $49.2 billion and exports at $15.6 billion, making smartphones the fourth-largest export after diesel, aviation fuel, and polished diamonds.
However, a few industry groups are pushing for further import tariff cuts on smartphone components in the Union Budget for FY26.
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