Budget 2021: Govt raises import duty on parts of mobile phones, chargers
3 years, 11 months ago

Budget 2021: Govt raises import duty on parts of mobile phones, chargers

India TV News  

The government on Monday proposed to impose import duty on components of mobile phones and chargers, to enhance local value addition. Finance Minister Nirmala Sitharaman announced a review of 400 exemptions in customs duty including those applicable on the mobile devices segment. Sitharaman presented the Union Budget 2021-22 on Monday, which was approved by the Union Cabinet headed by Prime Minister Narendra Modi earlier today. Sitharaman, who had in her first budget in 2019 replaced leather briefcase that had been for decades used for carrying budget documents with a traditional red cloth 'bahi-khata', had earlier this month stated that the budget for the fiscal year beginning April will be "like never before".

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History of this topic

India may tweak customs duties, regulations in budget to back local component manufacturing, ease trade
4 hours, 24 minutes ago

India may tweak customs duties, regulations in budget to back local component manufacturing, ease trade

Live Mint  

New Delhi: The government may rework and simplify customs duties and procedures in select sectors in the Union budget for FY26 to make it attractive for manufacturers of finished goods to also produce components or semi-finished goods, according to two people familiar with the matter. Calibrating customs tariffs to improve the viability of investments in finished products and the intermediate …

Tariffs, GDP path in PM pre-budget talks
3 weeks ago

Tariffs, GDP path in PM pre-budget talks

Hindustan Times  

Prime Minister Narendra Modi on Tuesday consulted economists about navigating global uncertainty and maintaining India’s economic growth momentum, ahead of the NDA government’s second budget in its third term in office. Among top officials, the meet was attended by the finance minister, principal secretary to the PM, PK Mishra, Niti Aayog vice-chairman Suman Bery, Niti Aayog’s CEO BVR Subrahmanyam and …

Mobile Phones, Electronics To Become Cheaper As FM Announces Major Reduction in Basic Customs Duty
5 months, 3 weeks ago

Mobile Phones, Electronics To Become Cheaper As FM Announces Major Reduction in Basic Customs Duty

News 18  

In a significant move aimed at giving a leg up to the domestic electronics industry, Union Finance Minister Nirmala Sitharaman announced a major reduction in customs duty for several key electronic items in the Union Budget 2024-25 on Tuesday. The basic customs duty on mobile phones, mobile printed circuit board assembly, and mobile chargers has been reduced from 20% to …

Mobile Phones to get cheaper, as FM Nirmala Sitharaman reduces basic customs duty to 15%
5 months, 3 weeks ago

Mobile Phones to get cheaper, as FM Nirmala Sitharaman reduces basic customs duty to 15%

Deccan Chronicle  

New Delhi: Finance Minister Nirmala Sitharaman announced a reduction of 15 per cent in the Basic Customs Duty on mobile phones while presenting the Union Budget for the fiscal year 2024-25 in Parliament on Tuesday. Along with mobile phones, the BCD on mobile Printed Circuit Board Assembly, and mobile chargers will be lowered to 15 per cent. In the interest …

Budget 2024: Mobile phones, chargers to get cheaper; Nirmala Sitharaman proposes cut in customs duty
5 months, 3 weeks ago

Budget 2024: Mobile phones, chargers to get cheaper; Nirmala Sitharaman proposes cut in customs duty

Hindustan Times  

Union Finance Minister Nirmala Sitharaman, while presenting Budget 2024 in the Lok Sabha, announced the proposal to reduce the basic custom duty on mobile phones and chargers to 15 per cent from 20 per cent. While presenting the Union Budget 2024-25 in Parliament on Tuesday, FM Sitharaman said that there has been a three-fold increase in the domestic production of …

Budget 2024: Mobile phones, chargers to get cheaper; Nirmala Sitharaman proposes cut in customs duty
5 months, 3 weeks ago

Budget 2024: Mobile phones, chargers to get cheaper; Nirmala Sitharaman proposes cut in customs duty

Hindustan Times  

Union Finance Minister Nirmala Sitharaman, while presenting Budget 2024 in the Lok Sabha, announced the proposal to reduce the basic custom duty on mobile phones and chargers to 15 per cent from 20 per cent. While presenting the Union Budget 2024-25 in Parliament on Tuesday, FM Sitharaman said that there has been a three-fold increase in the domestic production of …

2024 Union Budget 2024: Mobile phones, chargers set to be cheaper as customs duty slashed
5 months, 3 weeks ago

2024 Union Budget 2024: Mobile phones, chargers set to be cheaper as customs duty slashed

The Hindu  

The Centre on July 23 slashed basic customs duty on mobile phones, chargers and some components as part of the 2024 Union Budget. Union Finance Minister Nirmala Sitharaman said that duties on “oxygen free copper for manufacture of resistors”, hitherto set at 5%, would be eliminated. Exports, not domestic.” Finance Minister Nirmala Sitharaman today presented the Union Budget 2024 in …

Budget 2024: Mobile phones, chargers to get cheaper as government cuts customs duty
5 months, 3 weeks ago

Budget 2024: Mobile phones, chargers to get cheaper as government cuts customs duty

India TV News  

Finance Minister Nirmala Sitharaman on Tuesday presented the first budget of Modi 3.0 government. During her budget speech, Finance Minister Nirmala Sitharaman announced a significant reduction in customs duty on mobile phones, mobile PCBAs, and mobile chargers from the current 20 percent to 15 percent. Sitharaman highlighted the growth of the Indian mobile industry, noting that domestic production has increased …

Budget 2024: Will mobile phones become cheaper in India? | Here's what we know
5 months, 4 weeks ago

Budget 2024: Will mobile phones become cheaper in India? | Here's what we know

India TV News  

Budget 2024: There are high expectations regarding a potential reduction in the price of mobile phones in the upcoming budget. Last year, the central government reduced import taxes on key components, such as camera lenses, to promote mobile phone manufacturing in India. Govt likely to re-implement PLI scheme According to the report, the new NDA government is expected to re-implement …

Duty cut on import of mobile parts to positively impact end-pricing of smartphones
11 months, 2 weeks ago

Duty cut on import of mobile parts to positively impact end-pricing of smartphones

The Hindu  

The five percent duty cut on import of mobile components holds the promise of potentially impacting end-pricing for consumers positively, said homegrown mobile manufacturer Lava International. “The government’s decision to cut import duties on mobile phone manufacturing parts from 15% to 10% is a welcome move for the entire smartphone industry, including Lava International. This reduction is a positive step …

Import duty on mobile phone components cut to 10% from 15%
11 months, 2 weeks ago

Import duty on mobile phone components cut to 10% from 15%

Live Mint  

The Centre has reduced import duty on parts used for mobile phone manufacturing to 10% from 15%, in a move to push mobile phone manufacturing in India amid the country's larger focus on exports and becoming a player in global supply chains. Building scale, riding on low input tariffs is key to transforming India into a global hub for electronics …

Union budget 2023: Make in India push for mobiles and TVs amidst duty relief
1 year, 11 months ago

Union budget 2023: Make in India push for mobiles and TVs amidst duty relief

Hindustan Times  

The Union Budget 2023 provided impetus to localised manufacturing for mobile phones and television sets, with finance minister Nirmala Sitharaman outlining plans to extend relief on customs duties on components for the next financial year. Official government figures peg India’s mobile phone manufacturing at 310 million units in last fiscal. Official government figures peg India’s mobile phone manufacturing at 310 …

Budget 2023: Cheaper EVs as FM Sitharaman extends subsidy on electric batteries
1 year, 11 months ago

Budget 2023: Cheaper EVs as FM Sitharaman extends subsidy on electric batteries

Hindustan Times  

By removing the custom duty on capital goods/machinery for manufacture of lithium-ion cell in batteries of electric vehicles and extending the subsidy on electric batteries for one more year, finance minister Nirmala Sitharaman gave a significant push for EVs by making it cheaper. She announced in her Budget speech at the Parliament on Wednesday that the concessional duty on lithium-ion …

Budget 2023: EVs, mobile phones - What all will become cheaper as govt reduces customs duty
1 year, 11 months ago

Budget 2023: EVs, mobile phones - What all will become cheaper as govt reduces customs duty

India TV News  

Budget 2023: Union Finance Minister Nirmala Sitharaman on Wednesday presented her 5th and last full budget of the Modi government in its present term. The government announced a reduction in customs duty on several products and services which will further reduce the prices of several electronic goods. As a result, there are minor changes in the basic customs duties, cesses, …

Union Budget 2023-24 Expectation: What electronics sector wishes for this year
1 year, 11 months ago

Union Budget 2023-24 Expectation: What electronics sector wishes for this year

Firstpost  

The announcement of the Union Budget 2023 is just around the corner. The country has several expectations and hopes from the Union Budget 2023-24, like infrastructure development, tax reliefs and benefits, development of the healthcare sector, and so on. The electronic companies have urged the Indian government to reduce the tariffs on parts and components ahead of the Union Budget …

Made in India phones likely to see price increase as custom duty on display goes up
2 years, 4 months ago

Made in India phones likely to see price increase as custom duty on display goes up

India Today  

It seems that the cost of mobile phones in India could increase in the near future. India’s apex indirect tax has issued an order that says more custom duty charges will be applied depending on the inputs used in mobile phones. According to a report from PTI, the import of display assembly of smartphones along with back support frames will …

Budget 2022: Customs duty to be calibrated; phones, bands, TWS may become cheap
2 years, 11 months ago

Budget 2022: Customs duty to be calibrated; phones, bands, TWS may become cheap

Live Mint  

The Union Budget 2022 presented today mentioned a cut in the customs duty on the parts which are being used in the manufacturing of a smartphone and its related ecosystem. Finance Minister Nirmala Sitharaman in her Budget speech said that it will boost the local manufacturing of electronics items. Duty concessions were also announced on parts of phone chargers and …

Union Budget 2022 | What is cheaper and what is costlier?
2 years, 11 months ago

Union Budget 2022 | What is cheaper and what is costlier?

The Hindu  

The government on Tuesday proposed to increase the basic customs duty on import of commonly used items, including headphones and earphones, loudspeakers, smart meters, imitation jewellery, solar cells, solar modules to promote domestic manufacturing in the in the Union Budget for 2022-23. However, imported cut and polished diamonds, frozen mussels, frozen squids, asafoetida, cocoa beans, methyl alcohol and acetic acid …

Centre may revise duty on electronics
2 years, 11 months ago

Centre may revise duty on electronics

Hindustan Times  

The government is likely to rejig customs duties on components or sub-parts of consumer electronics and mobile phones in the upcoming Union budget, two people familiar with the development said. The government is considering reducing import duties on components of audio devices and wearables such as smartwatches and smart bands to boost local manufacturing, the second person said, also declining …

Union Budget 2021: Refrigerators, ACs, mobile phones to become costlier; gold, silver to be cheaper
3 years, 11 months ago

Union Budget 2021: Refrigerators, ACs, mobile phones to become costlier; gold, silver to be cheaper

Firstpost  

New Delhi: A large number of commonly used items, including refrigerators, air conditioners, LED lights and mobile phones, will become more expensive due to hike in customs duty on their imported parts, as proposed by Finance Minister Nirmala Sitharaman in the Union Budget for 2021-22. Likewise, customs duty on solar inverters has been hiked to 20 percent from five percent …

Budget Phones to Cost More, More Companies to Sell Without Chargers: Union Budget 2021 Reactions
3 years, 11 months ago

Budget Phones to Cost More, More Companies to Sell Without Chargers: Union Budget 2021 Reactions

News 18  

Smartphone prices in India may be set for a hike in the near term, after the central government announced the removal of key exemptions for mobile phone and electronics manufacturers in India. In the Union Budget 2021 speech, finance minister Nirmala Sitharaman stated the reduction of exemptions in the manufacturing sector, imposing 2.5 percent customs duties on components, parts and …

Union Budget 2021: What gets cheaper and what's costlier
3 years, 11 months ago

Union Budget 2021: What gets cheaper and what's costlier

India Today  

Finance Minister Nirmala Sitharaman on Monday presented the Union Budget for the fiscal year beginning April 1. Health emerged as the topmost priority for the Narendra Modi government as the finance minister proposed more than doubling of healthcare spending while imposing a new agri cess on certain imported goods and raising customs duty on items ranging from cotton to electronics …

Budget 2021: AC and Refrigerator to Be Costlier; Gold and Silver to Be Cheaper
3 years, 11 months ago

Budget 2021: AC and Refrigerator to Be Costlier; Gold and Silver to Be Cheaper

News 18  

A large number of commonly used items, including refrigerators, air conditioners, LED lights and mobile phones, will become more expensive due to hike in customs duty on imported parts, as proposed by Finance Minister Nirmala Sitharaman in the Union Budget for 2021-22. However, gold and silver will become cheaper as a result of rationalisation in customs duty on imports of …

Budget 2021-22: What gets costlier and what's cheaper | Check Full List
3 years, 11 months ago

Budget 2021-22: What gets costlier and what's cheaper | Check Full List

India TV News  

Budget 2021: Union Finance Minister Nirmala Sitharaman on Monday presented Union Budget 2021-22 in Lok Sabha on Monday, February 1. This year's Budget is unique as finance minister used a Made in India tablet to deliver a paperless Budget address, and ditched a 'bahi khata', that she used last year. The Budget 2021 is special as it was presented in …

Union Budget 2021: Govt Removes Mobile Manufacturing Exemptions, 'Some Parts' to Face 2.5% Duty
3 years, 11 months ago

Union Budget 2021: Govt Removes Mobile Manufacturing Exemptions, 'Some Parts' to Face 2.5% Duty

News 18  

Domestic manufacturing of electronics have grown exponentially, and India is now even exporting mobile phones and chargers to other markets, said Finance Minister Nirmala Sitharaman at her Union Budget 2021 speech earlier today. In conjunction, Sitharaman announced that as the government targets greater “domestic value addition”, “some parts” of the mobile manufacturing process will be imposed with a 2.5 percent …

Budget 2021: Govt may increase customs duty on certain components, says report
3 years, 11 months ago

Budget 2021: Govt may increase customs duty on certain components, says report

Live Mint  

Union Finance Minister Nirmala Sitharaman will present Prime Minister Narendra Modi-led NDA government's eighth budget on February 1 amid the Covid-19 pandemic and under the unprecedented economic crisis triggered by it. This time, the Central Government may increase the customs duty on certain components, sources told ANI on Wednesday. According to the sources, to boost the Make in India initiative, …

Mobiles Phones to Get Costlier As Govt Announces 10% Import Duty on Display Panels
4 years, 3 months ago

Mobiles Phones to Get Costlier As Govt Announces 10% Import Duty on Display Panels

News 18  

Mobile phones are about to get more expensive in India as the government has imposed a 10 percent import duty on display and touch panels. The Indian Cellular and Electronics Association said that the direct impact on mobile phone prices will be a 1.5 percent to 3 percent hike. Currently, only four companies including Holitech and TCL make display panels …

Budget 2020 | Steep hike in Customs Duty to keep China toys out of reach
4 years, 11 months ago

Budget 2020 | Steep hike in Customs Duty to keep China toys out of reach

The Hindu  

Customs Duty on a range of articles like household goods, electrical appliances, auto parts, footwear, furniture and some mobiles phone parts has been raised in the Union Budget. S. Jaikumar, country head, Swamy Associates said, “Raising Customs Duty is aimed at helping MSMEs in the country as dumping from China has been hurting them. This will boost domestic industry, local …

Budget 2020: Govt likely to raise import duties on over 50 items
4 years, 11 months ago

Budget 2020: Govt likely to raise import duties on over 50 items

India TV News  

Ahead of Budget 2020 which will be presented by Finance Minister Nirmala Sitharaman on February 1, sources have indicated that the government may increase import duties on as many as 50 items as the administration eyes to revive the economy after IMF trimmed India's growth projection. 69% want tax free income to be hiked to Rs 5 lakh in budget …

Govt hikes import duty on select communication items to up to 20% to check widening CAD
6 years, 3 months ago

Govt hikes import duty on select communication items to up to 20% to check widening CAD

Firstpost  

The CAD widened to 2.4 percent of the GDP in the first quarter of 2018-19. New Delhi: The government Thursday hiked the import duty on certain communication items, including base stations, to up to 20 percent as part of efforts to check a widening current account deficit by curbing imports. Import duty on populated, loaded or stuffed printed circuit boards …

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