Import duty cut to make mobile production ecosystem more competitive: ICEA

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Import duty cut to make mobile production ecosystem more competitive: ICEA - Business Standard

Quick Summary:

Government proposal to reduce import duty on several components as well as exemption of capital goods will reduce cost of indigenous mobile manufacturing but consumers are unlikely to get a major relief, according to an industry body.

India Cellular and Electronics Association Chairman Pankaj Mohindroo said that the removal of 2.5 per cent duty on mobile parts was a "nuisance" tariff which was not doing any value addition in the mobile phone manufacturing ecosystem.

Overall measures announced in the budget will boost competitiveness in the Indian mobile manufacturing space which is good for attracting investments and enhancing exports," Mohindroo said.