Union Budget 2021-22: Manufacturing, Atmanirbhar Bharat & healthcare can be main themes daijiworld.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from daijiworld.com Daily Mail and Mail on Sunday newspapers.
Synopsis
“We are suggesting that import duty should be capped on either 20% or Rs 4000 of the bill value of a device, whichever is higher. This is because in high-end phones, import duty is creating a large arbitrage and promoting the grey market of these devices,” a senior industry executive told ET.
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New Delhi: India’s apex electronics makers body has urged the government to reduce the 20% basic customs duty on mobile phones, because of large scale manufacturing of handsets in India, imports are no longer a threat and the industry has the strength to face competition.
“We are suggesting that import duty should be capped on either 20% or Rs 4000 of the bill value of a device, whichever is higher. This is because in high-end phones, import duty is creating a large arbitrage and promoting the grey market of these devices,” a senior industry executive told ET.
From pushing electric mobility to boosting textile sector, Niti Aayog charts 2021 reforms map hindustantimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hindustantimes.com Daily Mail and Mail on Sunday newspapers.
Market cap value as of 1:30 pm on December 29 So far in this fiscal year, the Bajaj Auto stock has gained over 70% in value, and analysts believe that there is more room for rally ahead. A significant spike in its rally came in the past one week led by various developments, including its recent pact with the Maharashtra government to set up a ₹650 crore manufacturing unit in Chakan. The automaker also filed for a trademark for the Excelsior-Henderson name in Europe, hinting at a possible entry in the retro-motorcycle segment.
In November this year, the government announced a ₹2 lakh crore production-linked manufacturing scheme to encourage various industries to boost local manufacturing and boost exports. The auto sector is poised to receive subsidies worth ₹57,000 crore; and Bajaj Auto could be a likely beneficiary of this scheme.
Lava to launch Made in India smartphones on January 7
Lava Mobiles has announced it is holding an event next month to showcase a game-changing moment in the smartphone industry
Shubham Verma | December 28, 2020 | Updated 16:49 IST
Highlights
Lava Mobiles will launch new smartphones on January 7.
It is not currently known how many smartphones Lava will launch.
Lava Mobiles, a homegrown smartphone company, has announced it will hold an event on January 7 to showcase what it is calling the game-changing moment in the smartphone industry. This is an indirect hint at the comeback of the brand to the mainstream mobile phone market days after its rival Micromax returned to the market with the launch of IN sub-brand. The reemergence of Lava Mobiles and Micromax comes against the backdrop of anti-China sentiment that followed the border clashes between India and China.