Govt Raises Import Duty On Parts Of Mobile Phones, Chargers
Mumbai: The government on Monday proposed imposing import duties on components of mobile phones and chargers to increase local price increases.
Finance Minister Nirmala Sitharaman announced a review of the 400 exemption in customs duties applicable to the mobile devices segment.
Also Read: MSP Regime Has Assured 1.5 Times More Price To Farmers: Sitharaman
Sitharaman said, “For greater domestic value addition, we are removing some discounts on parts of chargers and sub-parts. Further, some parts of the mobile will go up to 2.5 per cent from zero rates.”
Also Read: MSP Regime Has Assured 1.5 Times More Price To Farmers: Sitharaman
She said that the Customs Duty Policy should have dual objectives of promoting domestic manufacturing and helping India get on the global value chain and make better exports.
“The trust now has to be on easy access to raw materials and exports of value addition,” Sitharaman said.
Follow us on Twitter, Instagram, and like us on Facebook for the latest updates and interesting stories.
