TECHNOLOGY

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.

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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.”

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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.

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“The trust now has to be on easy access to raw materials and exports of value addition,” Sitharaman said.

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