NEW DELHI, July 9 (Reuters) - India has scrapped import duties on some parts used to make mobile phones and other electronic devices, removing the current 7.5% and 5% levies, in a move that could help companies like Apple and Xiaomi.
Here are more details:
• Items include key parts for producing wireless charging modules for mobile phones, displays for medical devices and automobiles, and lithium-ion cells.
• The exemption will be valid until March 31, 2029.
• "This should boost cost competitiveness, domestic value addition and localisation of high-value smartphone and electronics manufacturing," said Manoj Mishra, a partner at business consultancy Grant Thornton Bharat.
• Exemption for lithium-ion cell manufacturing may spur investment in domestic battery production for electronics and electric mobility, Mishra said.
• India aims to expand electronics manufacturing to $500 billion by fiscal year 2030.
• Smartphone production in India rose 28-fold over the last decade to 5.45 trillion rupees ($57 billion) in 2024/25.
(Reporting by Nikunj Ohri; Editing by Alexandra Hudson)
