Union Budget 2024: Government gives relief to smartphone industry, mobile phones coming from abroad will be cheaper by up to 6%

The government has reduced the customs duty on phones coming to the country from outside. Because of this, phones coming from abroad will now become cheaper by up to six percent. In the budget for the financial year 2024-25, the central government has reduced the customs duty on goods coming from outside through shipment from 20 percent to 15 percent.

Union Finance Minister Nirmala Sitharaman, while presenting the Union Budget for the financial year 2024-25 on 23 July 2024, proposed to reduce the import duty on mobile phones, chargers, and some parts used in the manufacture of phones.

Nirmala Sitharaman said, 'The Indian phone industry has improved a lot with a three-fold increase in domestic production in the last six years and a jump of almost 100 percent in the export of mobile phones. ' Sitharaman said, 'In the interest of customers, I propose to reduce the BCD i.e. basic customs duty on mobile phones, mobile PCBA, and chargers to 15 percent. ' Earlier, the BCD on mobile phones, mobile PCBA, and chargers was twenty percent.

At the same time, the mobile phone industry body ICEA said that this move of the government will increase India's export competitiveness in this sector. ICEA Chairman Pankaj Mohindru said, that in the case of mobile phones, there may be a reduction of 5 to 5.5 percent on some models coming from abroad. The reduction in charger duty will have an impact of 0.15 to 0.20 percent on phones, as domestic manufacturers will also reduce prices. Mohindru said, we had recommended reducing the duty on mobile phones, chargers, and PCBA to 15 percent, which has been accepted. In such a situation, the mobile and electronic industry is very excited about this.