Budget 2024: Mobile phones, chargers to get cheaper as government cuts customs duty
5 months 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 threefold and exports of mobile phones have increased 100-fold over the last six years. She stated, "With a threefold increase in domestic production and almost 100-fold jump in exports of mobile phones over the last six years, the Indian mobile industry has matured. Meanwhile, the Indian smartphone market saw a modest 1 percent growth in the April-June quarter, with a total of 36.4 million units shipped, according to a report released on Thursday.

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History of this topic

Customs duty cuts across sectors: Experts predict rise in consumer confidence and spending
5 months ago

Customs duty cuts across sectors: Experts predict rise in consumer confidence and spending

Deccan Chronicle  

Tirupati: Finance minister Nirmala Sitharaman's Union Budget 2024-25 on Tuesday has set the stage for significant shifts in consumer spending patterns and market dynamics. She announced a reduction in basic customs duty on mobile phones, mobile printed circuit board assembly and mobile chargers from 20 per cent to 15 per cent. This would boost domestic manufacturing, reduce import dependence and …

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

Gold Rate, Budget 2024: Jewellery stocks surge after government cuts basic custom duty on gold, silver
5 months ago

Gold Rate, Budget 2024: Jewellery stocks surge after government cuts basic custom duty on gold, silver

The Hindu  

Shares of gold and jewellery retailers surged on July 23 after Finance Minister Nirmala Sitharaman said the government will reduce the basic customs duty on the yellow metal and silver to 6%. In addition, shares of Titan Company climbed 3.66% to ₹3,371.65 per piece, Tribhovandas Bhimhji Zaveri rose 2.79% to ₹140.20, and Kalyan Jewellers India gained 1.54% to ₹537.05 apiece …

Budget 2024: Mobile phones, chargers to get cheaper; Nirmala Sitharaman proposes cut in customs duty
5 months 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 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: What's costlier, what's cheaper | FULL LIST
5 months ago

Budget 2024: What's costlier, what's cheaper | FULL LIST

India TV News  

Budget 2024: Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 and announced several measures which will make various items cheaper. X-ray machines Cancer medicines Mobile phones Mobile chargers Mobile phone parts Solar panels Solar cells Electric vehicles Leather shoes, sandals, and wallets Gold and silver Items made of platinum Imported jewelry Seafood What's costlier in the Budget? Sitharaman proposed …

Budget 2024: What will be cheaper and what to cost more
5 months ago

Budget 2024: What will be cheaper and what to cost more

New Indian Express  

What Will Get Cheaper The Budget 2024 recommends reduced customs duty on mobile phones, and chargers to 15% from the current 20%. Prices of certain other industrial products such as ferro nickel and blister copper also will be get reduced as government has removed basic customs duties on them as well. Additionally, the Budget has also proposed customs duty exemption …

Govt should rationalise customs duty in budget to boost domestic manufacturing: Industry body
5 months, 1 week ago

Govt should rationalise customs duty in budget to boost domestic manufacturing: Industry body

New Indian Express  

New Delhi:The Indian Chamber of Commerce has suggested the government to rationalise customs duties in various sectors including steel, solar battery, aluminum, and lithium cells in a bid to boost domestic manufacturing. ICC President Ameya Prabhu said protective measures are needed for the growth of domestic industry in sectors including steel, solar battery, aluminum, and lithium cells. Huge potential is …

Centre cuts duty on components used to make mobile phones
10 months, 3 weeks ago

Centre cuts duty on components used to make mobile phones

Hindustan Times  

The finance ministry has reduced customs duty for certain goods used in manufacturing mobile phones from 15% to 10%, a decision that officials said would help India’s mobile hardware industry and one that experts believe could lead to marginally cheaper devices. I thank Hon’ble Prime Minister and Finance Minister for this step towards strengthening the mobile phone manufacturing system,” IT …

Duty cut on import of mobile parts to positively impact end-pricing of smartphones
10 months, 3 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%
10 months, 3 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 …

How reduced taxes on mobile parts could impact smartphone-making industry in India? Explained
10 months, 3 weeks ago

How reduced taxes on mobile parts could impact smartphone-making industry in India? Explained

India TV News  

The centre has taken a big step to support mobile phone production in India. Metal-made mechanical items for cellular mobile phones, such as battery covers, front covers, GSM antennas, sealing gaskets, and more, Expanded List of Components The list includes conductive cloth, LCD conductive foam, BT foam, heat dissipation stickers, protective films, and various items used to make cell phones. …

Union budget 2023: Make in India push for mobiles and TVs amidst duty relief
1 year, 10 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: EVs, mobile phones - What all will become cheaper as govt reduces customs duty
1 year, 10 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, …

Budget wishlist: ICEA for rationalisation of duties on parts, components of mobile phones, sub-assemblies
1 year, 10 months ago

Budget wishlist: ICEA for rationalisation of duties on parts, components of mobile phones, sub-assemblies

The Hindu  

India Cellular and Electronics Association has batted for rationalisation of duties on parts and components of mobile phones and sub-assemblies, saying some of the smaller tariffs should be done away with, while all inputs duties on ‘mechanics’ should be removed immediately. The 20% customs duty on high-end phones should be continued only with a maximum BCD pegged at ₹4,000 per …

Budget 2023: Govt Likely To Hike Import Duty On 35 Items; Jewellery, Electronic Items To See Price Rise
1 year, 11 months ago

Budget 2023: Govt Likely To Hike Import Duty On 35 Items; Jewellery, Electronic Items To See Price Rise

News 18  

The government is examining to hike customs duty on more than 35 items in the upcoming budget, which is scheduled to be announced on February 1, according to an Economic Times report. Meanwhile, the commerce ministry has also sought a reduction in the import duty on gold in the budget with a view to push exports and manufacturing of the …

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, 10 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, 10 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, 10 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 …

Budget Phones to Cost More, More Companies to Sell Without Chargers: Union Budget 2021 Reactions
3 years, 10 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 …

Budget 2021: Govt may increase customs duty on certain components, says report
3 years, 10 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, 2 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 …

Phone by Xiaomi, Samsung, Apple and others to become expensive due to custom duty hike
4 years, 2 months ago

Phone by Xiaomi, Samsung, Apple and others to become expensive due to custom duty hike

India Today  

India Cellular and Electronics Association on Friday said that the Indian government has put a 10 per cent import duty on smartphones' display and touch panel. With the new 10 per cent custom duty, the smartphones will certainly become costlier for the consumers as most of the displays and touch panels are imported. With the 10 per cent custom duty …

Govt mulls 20% customs duty on solar power equipment to cut imports: Thakur
4 years, 5 months ago

Govt mulls 20% customs duty on solar power equipment to cut imports: Thakur

Live Mint  

The government is considering a proposal by the Ministry of New and Renewable Energy to impose 20% basic customs duty on solar modules to provide an edge to domestic manufacturers and discourage imports, particularly from China, Minister of State for Finance Anurag Thakur said on Thursday. India imported solar power equipment worth USD 1.2 billion during April-December 2019, he said. …

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