Reduce tariffs on manufacturing inputs for electronics: ICEA
The Indian Cellular & Electronics Association, which represents domestic electronics manufacturers, called on Tuesday for a reduction of import duties as a key Union budget demand. Pankaj Mohindroo, the ICEA’s President, argued against the relatively high tariffs India imposes on manufacturing inputs — China and Vietnam’s tariffs apply on fewer components and are of lower rates — saying that domestic component makers were increasing prices to just below the net prices of inputs to take advantage of the situation. “Global suppliers also consider the higher domestic price as their reference price in their negotiations with exporters because their imported inputs are duty-free for exports,” the ICEA report said. These tariffs, Mr. Mohindroo said, were compounded by customs authorities hindering orderly shipments of key components, likening the situation to an imported shirt being held back on account of higher duties on buttons. “Current high tariffs increase manufacturing costs in India by 7–7.5% on the bill of materials,” Mr. Mohindroo said.
Discover Related
Advantage India in electronics as Donald Trump pauses tariff, hints at exemptions
As US buyers cancel orders, Chinese factories say no more discounts
Destination next: India's search for new markets to save exports
Sectors signal challenges ahead for region, beyond
Indian pharma turns to home remedy as tariff malady looms
India’s annual electronics exports expected to double to $50 billion by 2030
Rahul Gandhi warns of ‘economic storm’ from Trump tariffs, says ‘millions at risk’
China Raises Tariffs to 84% in Response to Trump’s 104% Import Levies
Tariff war escalates as China imposes additional levy of 50%, says will charge 84% on US imports
In US-China trade war, Indian tyre makers could be collateral damage
Trump to tariff pharmaceuticals next. Will this hurt India, a big medicine exporter?
‘Tariff-hit nations kissing my a**’: Trump claims countries are ‘dying to make a deal’
'Trade, tariff wars have no winners': China seeks to ally with India against Trump's levy blitz
Impact of Trump's tariffs not yet known; India engaged with US to seal trade pact: Jaishankar
Cheaper gadgets coming? New incentive scheme aims to lower electronics prices
Goyal to assess US tariff impact with export promotion councils on Wednesday
Apple exported $17 billion in iPhones from India, says Union minister Ashwini Vaishnaw
TSMC could face $1 billion or more fine from US probe, sources say
Apple plans to source more iPhones from India as potential tariff fix
Trump tariffs shake global markets: How India stands out amid trade tensions