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The electric vehicle industry in India is picking pace with 100% FDI possible, new manufacturing hubs, and increased charging infrastructure coverage.
Manufacturing for the world - A bold Budget adds to the momentum SECTIONS Last Updated: Feb 17, 2021, 05:57 PM IST Share Synopsis While Make in India 1.0 was instrumental in furthering the evolution of manufacturing in India, Make in India 2.0 is expected to increase its momentum. ThinkStock Photos Beset by problems of low productivity and the availability of cheaper import substitutes, the manufacturing sector's share in India's GDP has remained range bound for the past 20 years. Though India has moved up in the World Trade Organisation's rankings of leading exporters in world merchandise t...
Updated Feb 02, 2021 | 19:23 IST The FM in the Budget announced a 2.5% hike in custom duty for parts of smartphones and compressors for refrigerators and air conditioners. Finance Minister Nirmala Sitharaman (File photo) Key Highlights Home appliances manufacturers are currently already passing on price hikes in the range of 8 to 14 per cent due to input cost pressures Industry voices believe the budget annoucement will not have a sizeable impact on prices or demand for these products Finance Minister Nirmala Sitharaman announced in this year's Union Budget that...
Image: Flickr Finance Minister Nirmala Sitharaman announced the Union Budget 2021 in the parliament earlier today. One of the biggest announcements for the technology and electronic gadgets industry of the country is the increase of custom duty on mobile chargers and some sub parts of phones. Some parts of mobile phones will also move from NIL custom duty to a Moderate custom duty of 2.5 per cent, Sitharaman announced. Also Read - Today's Tech News: Union Budget 2021, popular Twitter accounts banned, more During the announcement, FM said, “Withdrawing exemptions on parts of chargers and m...
Budget 2021: Government raises import duty on parts of mobile phones, chargers The finance minister announced withdrawal of duty exemption on components used for mobile chargers and imposed 10 percent duty on them with effect from 2 February. Feb 01, 2021 17:07:59 IST The government on Monday proposed to impose import duty on components of mobile phones and chargers, to enhance local value addition, a move that may marginally impact handset prices. Finance Minister Nirmala Sitharaman announced review of 400 exemptions in customs duty including those applicable on the mobile devices segment....