New Delhi. Now mobile phones will be cheap. Just before the budget, Modi government has reduced the import duty on mobile phone parts. Till now, there was 15 percent import duty on mobile phone parts. This fee has been reduced to 10 percent. This will also benefit the Make in India project of mobile phones. Under the new decision of the Modi government, the import duty on SIM sockets, cellular modules, metal parts and other imported components of mobile phones has been reduced. Many mobile companies make phones in India. With this decision of the government, these companies will now have to spend less on importing mobile phone parts. Due to this the price of mobile phones will also fall.
Government of India slashes import duty on key components used in the production of mobile phones. The import duty has been reduced from 15 per cent to 10 per cent. pic.twitter.com/22CIz9Qoch
— ANI (@ANI) January 31, 2024
Recently, in the report of Global Trade Research Initiative i.e. GTRI, it was said that the import duty on imported parts of mobile phones can be reduced. It was believed that this reduction would be announced by the Modi government in the interim budget, but a day before the budget, the government issued an order to reduce the import duty. GTRI says that if the import duty is reduced, it will develop the smartphone market in India and also promote exports. GTRI report said that the reduction in import duty will grow the smartphone industry and also lead to long-term growth. Due to reduction in import duty on mobile parts, its production in India can increase by 28 percent. With this, smartphone manufacturing companies can do business worth up to $82 billion here. Reduction in import duty will make mobile phones cheaper, which will also ease competition in the international market.
According to the data of the year 2021, at that time there were 1.2 billion people using mobile phones in India. Of these, 75 crore people owned smartphones. In the last two years, there has been a much greater increase in the number of people using smartphones. If we talk about mobile phone manufacturing in India, it would have crossed the figure of Rs 200 crore in the year 2023. Under Make in India, manufacturing of mobile phones in India has progressed significantly during the Modi government.