India exempts tariffs on smartphone components… Samsung and Xiaomi expected to benefit
The Indian government announced on 7month 9day that it will exempt import tariffs on key components for smartphones and other electronic devices until 2029year 3month31day. The items covered include wireless charging parts, display assemblies, and lithium-ion cell equipment.
The Indian government announced on 7month 9day that it will exempt import tariffs on key components used in smartphones and other electronic devices. The exemption will remain in effect until 2029year 3month31day.
The exemption covers wireless charging parts for smartphones, display assemblies for automotive, medical, and industrial use, and lithium-ion cell equipment.
Indian authorities had previously imposed tariffs of 7.5~15% on wireless charging parts.
Display assemblies have had tariffs of 15 applied, and lithium-ion cell equipment has been subject to 7.5 to 10 tariffs.
The government said the measure came amid global supply-chain uncertainty caused by the Middle East situation and rising transportation costs.
Ashok Gupta, chairman of Optiemus Electronics, said it would help complement existing policy and attract investment in parts manufacturing.
Tariff exemptions are expected to lower raw-material procurement costs for electronics companies such as Samsung, Xiaomi, and Apple that have production facilities in India.
India has set a goal of expanding the scale of electronics manufacturing by the fiscal year 2030 to 5,000 billion dollars.
Smartphone production has increased 10 times over the past 28 years.
Sources: 뉴시스 경제
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