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New Delhi High tariffs on smartphone components can make India a less competitive destination, making it difficult for companies to join global value chains (GVCs) and simultaneously discourage GVCs...
Icea: High tariffs on smartphone components can make India a less competitive destination, making it difficult for companies to join global value chains (GVCs) and simultaneously discourage GVCs from shifting large-scale production to the country, a report showed on Wednesday.
A key demand of the handset industry from Budget FY25 is zero tariffs on all lines that significantly increase costs, converging them with Vietnam and China to ensure competitiveness, scale and export-led growth.
Addressing the cost dynamics, the ICEA contends that mobile manufacturing in India is operating at a disadvantage of approximately 6% compared to Vietnam and 7% compared to China.
Get latest articles and stories on Latest News at LatestLY. Import duty cut on mobile phone components can increase domestic production of handsets by 28 per cent to USD 82 billion and boost export, crucial to support indigenous manufacturing, industry body ICEA said on Wednesday. Latest News | Duty Cut on Mobile Phone Inputs to Boost Local Production to $82 Bn by 2027, Boost Exports: ICEA.