India’s new customs duties will make your next phone pricier

If you’re waiting to buy a phone in India this year, you might find prices in the market a tad steeper than before. The country has increased customs duty on importing certain parts to encourage local manufacturing. Presenting the annual budget, finance minister Nirmala Sitharman said today that the country is introducing import duty on few mobile parts in order to boost local manufacturing. Domestic electronic manufacturing has grown rapidly. We are now exporting items like mobiles and chargers. For greater domestic value addition, we are withdrawing a few exemptions on parts of chargers and sub-parts of mobiles. Further, some parts of mobiles…

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