Wait...
  1. Home >
  2. Export Import News >
  3. Import News >
  4. Import duty hike to drive local handset making >
  5. Import duty hike to drive local handset making

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Import duty hike to drive local handset making.


Date: 04-02-2020
Subject: Import duty hike to drive local handset making
Handset makers expect the government’s proposal to increase duty on printed circuit board assembly (PCBA) and chargers to help significantly expand the local manufacturing capacity of the components. They, however, want a consistent long-term policy to make India an export hub.

On Saturday, the government proposed increasing the import duty on PCBAs to 20% from 10% and chargers to 20% from 15%, to encourage local manufacturing. This will help increase the local production of PCBAs by more than 100 million and chargers by 50 million units, said the companies for whom these are key inputs. Currently, 160 million PCBAs are produced locally every year. Data on chargers weren’t immediately available.

The PCBA duty hike is the right move for the industry, Lava International chairman Hari Om Rai told ET. “We must manufacture every single PCBA here now.” The move will enable the country to meet the target of manufacturing 100 crore indigenous mobile handsets and promote the domestic contribution to value chain of ESDM (electronic system design and manufacturing) to achieve $400 billion (Rs 28.6 lakh crore) of local manufacturing by 2025, said Prashant Singhal, EY’s emerging markets TMT leader.

Out of the targeted 100 crore mobile handsets, 60 crore, valued at about Rs 7 lakh crore, would be for exports. The government has set an ambitious target to increase smartphone exports from the country to $110 billion by 2025 from $3 billion now. Nipun Marya, the director of brand strategy at Vivo India, said the budget proposal was in line with the government’s focus on increasing local manufacturing.

The government has also proposed that fingerprint readers, ringer/vibrator and display and touch panel will attract 15%, 15% and 10% duty, respectively. “The duty hike for display and touch panel will come into effect in October,” India Cellular and Electronics Association chairman Pankaj Mohindroon said.

Source: economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 25-08-2020



Date: 06-07-2020
Notification No. 29/2020-Customs
Seeks to further amend notification no. 152/2009 dated 31.12.2009, to increase the rate of duty of customs on imports of Phthalic Anhydride originating in Korea RP and imported under the India-Korea Comprehensive Economic Partnership Agreement, on recommendation of preliminary findings of Directorate General of Trade Remedies under India-Korea Comprehensive Economic Partnership Agreement (Bilateral Safeguard Measures) Rules, 2017.

Date: 02-07-2020
Notification No. 55/2020 - Customs (N.T.)
Exchange Rates Notification No.55/2020-Custom (NT) dated 02.07.2020.

Date: 01-07-2020
Notification No. 58/2020 – Central Tax
Seeks to make eighth amendment (2020) to CGST Rules

Date: 30-06-2020
Notification No. 54/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg.

Date: 30-06-2020
Circular No.31/2020-Customs
Extension of validity of AEO certification for ease of renewal process (Modification in Circular No. 27/2020 dated 02.06.2020) [Circular No. 31/2020 - Customs dated 30.06.2020].

Date: 30-06-2020
Notification No. 57/2020 – Central Tax
Seeks to amend notification no. 52/2020-Central Tax in order to provide conditional waiver of lat fees for the period from July, 2017 to July, 2020.

Date: 30-06-2020
PUBLIC NOTICE No. 11/2015-2020
Extension of validity of Recognition of Pre-shipment Inspection Agencies (PSIAs

Date: 29-06-2020
Trade Notice No. 17/2020-2021
Procedure and Criteria for submission and approval of applications for export of PPE Medical Coveralls for COVID-19

Date: 27-06-2020
Notification No. 55/2020 – Central Tax
Seeks to amend notification no. 35/2020-Central Tax in order to extend due date of compliance which falls during the period from "20.03.2020 to 30.08.2020" till 31.08.2020.



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001