Govt slashes import duty on mobile phones, chargers

The government on Tuesday proposed slashing import duty on mobile phones, chargers, and some components used for manufacturing handsets in the Union Budget for fiscal year 2024-25.

Finance Minister Nirmala Sitharaman said with a three-fold increase in domestic production and an almost 100-fold jump in exports of mobile phones over the last six years, the Indian mobile phone industry has matured.

"In the interest of consumers, I now propose to reduce the BCD (basic customs duty) on mobile phones, mobile PCBA, and mobile chargers to 15%," Sitharaman said.

Mobile phone industry body ICEA said that the move will enhance the export competitiveness of India in the segment.

"We had recommended reducing BCD on mobile phones, its PCBA, and charger/adapter to 15%, which has been accepted. The mobile and electronics industry is elated with the announcements and will go a long way to enhance manufacturing, exports, and our competitiveness," ICEA Chairman Pankaj Mohindroo said.