Electronics industry seeks tariff cuts, PLI for components in Budget

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Electronics industry seeks tariff cuts, PLI for components in Budget - Business Standard

Quick Summary:

The government should provide appropriate policy and financial support for building large-scale components and sub-assembly ecosystems, with a longer gestation and incentive period.

Notably, India’s electronics manufacturing output reached $115 billion in FY24, with $29.1 billion in electronics exports, making electronics the fifth-largest export category from India.

Further, reducing duty from 20 per cent to 15 per cent on Printed Circuit Board Assembly (PCBA), charger adapter and mobile phone, and reduction in duty on mic/receiver components from 15 to 10 per cent are some other demands from the industry.