In a bid to further boost mobile manufacturing in the country, the government has slashed import duty on parts used for manufacturing of mobile phones to 10 per cent from 15 per cent.
The finance ministry said in a notification that the import duty on parts such as battery covers, main lens, back cover, other mechanical items of plastic and metal, among others, has been reduced to 10 per cent.
The move will help companies like Apple to manufacture more of its high-end premium smartphones in the country.
India's smartphone input tariffs are currently the highest among the competing manufacturing destinations.
India's smartphone manufacturing has been transformed from 78 per cent import dependency in revenue terms in 2014-15 to only 4 per cent in 2022-23.
Now, 99.2 per cent of mobile phones sold in India are made in the country. Exports have become the main driver of future growth and job creation.
India's smartphone exports jumped 100 per cent in FY 2022-23 to $11.1 billion over the previous fiscal.
The industry expects exports of $15 billion in FY 2024. Exports will form 30 per cent of the total production of $49-50 billion in current fiscal.
Unless India can match China and Vietnam’s competitive tariff regime in addition to other factors which impact competitiveness, export growth will also start seeing a slowdown beyond the current fiscal, revealed the latest report by the India Cellular and Electronics Association (ICEA), the nation’s top electronics manufacturing industry body.
Tripura BJP to Focus on Organisational Strength Ahead of Upcoming Polls
BJP state president Abhishek Debroy has said that strengthening the party organisation at every level will remain the BJP's top priority as it prepares for the upcoming electoral battles in the state.
Governor Urges Mass Participation in Anti-Drug Drive at Tripura University
Calling drug addiction one of the most serious challenges confronting society, Governor Indra Sena Reddy Nallu urged citizens to join hands in the fight against narcotics, stressing that a drug-free society can only be achieved through collective public participation.
IGP holds review meeting in Gomati, stresses on intelligence-based policing
Tripura Police’s Inspector General of Police (IGP), Law and Order Branch, Manchak Eppar, IPS, visited the Gomati District Police Headquarters to assess the district’s law and order situation, crime prevention strategies and the overall progress of policing activities.
Stolen auto recovered from in Bishramganj, police launch probe
Bishramganj Police have recovered a stolen CNG auto-rickshaw from a rubber plantation near the new petrol pump area along the National Highway late Saturday night.
Auto Drivers Protest Traffic Enforcement in Kamalasagar
Tension briefly flared in the Lembutuli area of Kamalasagar on Sunday after an enforcement drive against the use of black window films (sun-control films) on vehicles led to a confrontation between Bishalgarh Police and auto-rickshaw drivers.
Garbage dumping row triggers protest in Kamalpur
Alleged dumping of garbage into a privately owned pond in Rishipara under Ward No. 2 of the Kamalpur Nagar Panchayat in Dhalai district has sparked outrage among local residents, who have demanded immediate intervention by the administration to address the growing environmental and public health concerns.
Police personnel accused of performing duty under influence of alcohol at Mata Bari; Probe Demanded
Allegations that a police personnel was performing duty under the influence of alcohol at the revered Mata Tripura Sundari Temple in Udaipur, Gomati district, have triggered widespread concern, with the incident drawing significant attention on social media.
Woman dies, minor injured after car crashes into house in South
A 45-year-old woman lost her life and a 10-year-old girl was injured after a WagonR car allegedly went out of control and hit them near Kalachhara Railway Station in South Tripura district on Sunday morning.