[CNNO Technology News] According to CNMO, India plans to reduce the basic tariffs on mobile phones, printed circuit boards (PCBs) and chargers in the federal budget from 20% to 15%, while also implementing some tariff exemptions and reductions. According to Canalys analysis, this move is expected to have a positive impact on the entire smartphone value chain.
AppleChallenges
Canalys believes that brands focusing on cost-effective segments and local assembly face challenges in exporting from India as costs are higher than mainland China.
India’s initiatives
To enhance its production competitiveness, India is reviewing its tax rate structure. The move is expected to make India's exports of cost-effective devices more competitive.
Specific Measures
In the mid-term budget in February, India reduced import duties on smartphone components such as back covers, battery covers, GSM antennas and camera lenses from 15% to 10%. In addition, there was a blanket exemption from tariffs on 25 critical minerals and a reduction in tariffs on two of them.
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