India decides to exempt import duties on smartphone components... Samsung and others expected to benefit
The Indian government announced on 9that it will exempt import duties on key electronic components such as wireless charging parts for smartphones, display assemblies, and lithium-ion cell equipment. This measure will remain in effect until 2029year 3month 31. Companies with production facilities in India are likely to see lower raw material procurement costs.
The Indian government announced on 9that it will exempt import duties on key components used in smartphones and other electronic devices. This measure will remain in effect until 2029year 3month 31.
The items covered include wireless charging components for smartphones, as well as display assemblies for automotive, medical, and industrial use, and lithium-ion cell equipment.
Indian authorities have imposed 7.5~15% tariffs on wireless charging components. A 15% tariff has been applied to display assemblies.
Lithium-ion cell equipment has been subject to 7.5~10% tariffs.
The Indian government said the move is intended to lower production costs and foster the domestic electronics industry ecosystem amid global supply chain disruptions and rising transportation costs.
Ashok Gupta, chairman of Indian electronics company Optimus Electronics, said it would help attract investment in component production.
Officials expected the measure to reduce raw material procurement costs for electronics companies such as Samsung, Xiaomi, and Apple, which have manufacturing facilities in India.
India has set a target to expand the scale of electronics manufacturing by fiscal year 2030 of 5000billion dollars (about 751trillion 8,000won).
Sources: 뉴시스 경제
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