Government Cuts Import Tax on Smartphone Components to Benefit Apple, Xiaomi

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India Removes Import Duties on Smartphone Parts to Boost Local Manufacturing

In a move aimed at strengthening India’s mobile phone manufacturing sector, Finance Minister Nirmala Sitharaman announced in the annual budget that the government has removed import duties on select smartphone components. The decision is expected to benefit global tech giants like Apple and Xiaomi, while also supporting local production efforts. By reducing costs for manufacturers, the government aims to further cement India’s position as a key player in the global electronics supply chain.

India’s Growing Electronics Industry

Over the past six years, India’s electronics production has more than doubled, reaching $115 billion (roughly ₹99.4 lakh crore) in 2024. The country is now the world’s second-largest mobile phone manufacturer, thanks to government-backed initiatives such as the Production-Linked Incentive (PLI) scheme. These policy measures have encouraged major smartphone brands to expand their production facilities within India, reducing reliance on imports and creating jobs in the sector.

Key Components and Market Impact

The import tax exemptions apply to essential components for mobile phone assembly, including printed circuit board assemblies, camera module parts, and USB cables, which were previously subject to a 2.5% tax. The move is expected to lower production costs and improve the competitiveness of locally assembled smartphones. According to research firm Counterpoint, Apple led the Indian smartphone market in 2024 with a 23% share in total revenue, followed closely by Samsung at 22%. With reduced import duties, companies like Apple and Xiaomi could expand their manufacturing footprint in India, making premium smartphones more affordable for consumers.

India’s Strategic Position Amid Global Trade Tensions

The tax cuts come at a time of increasing global trade uncertainty, particularly as the U.S. pursues protectionist policies under former President Donald Trump. With Washington encouraging companies to shift production back to the U.S., India is looking to capitalize on ongoing U.S.-China trade tensions by strengthening its role in global supply chains. By creating a more favorable manufacturing environment, India hopes to attract further investment from multinational corporations and solidify its position as a leading hub for electronics production.

Amazon Faces Lawsuit Over Alleged Secret Consumer Tracking via Cellphones

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Amazon is facing a lawsuit accusing the company of secretly tracking consumers through their cellphones and profiting from the data it collects. Filed on Wednesday in a San Francisco federal court, the proposed class-action suit claims that the retail giant gained unauthorized access to users’ location data without their knowledge or consent. The lawsuit raises concerns about privacy violations and the extent to which tech companies can collect and monetize personal information.

According to the complaint, Amazon allegedly obtained “backdoor access” to consumer devices by embedding its Amazon Ads SDK code into tens of thousands of third-party apps. This allowed the company to collect highly detailed, timestamped geolocation data, which could reveal sensitive personal details such as where users live and work, their shopping habits, and even their religious affiliations and health concerns. The lawsuit argues that Amazon’s practices amount to “fingerprinting” consumers, creating vast profiles without their explicit permission.

The legal challenge was initiated by Felix Kolotinsky, a California resident who claims Amazon collected his personal data through the “Speedtest by Ookla” app on his phone. The lawsuit suggests that many consumers may have unknowingly shared their information in a similar manner, highlighting the growing debate over digital privacy and data security. If proven, these allegations could further fuel regulatory scrutiny of Amazon’s data collection practices.

Kolotinsky’s complaint accuses Amazon of violating California’s penal code and state laws against unauthorized computer access. The lawsuit seeks unspecified damages on behalf of millions of Californians who may have been affected. As concerns over corporate data tracking intensify, the case could have significant implications for how companies collect and use consumer data, potentially leading to stronger privacy protections in the future.

MobiKwik and CRED Partner with RBI, Yes Bank to Launch eRupee CBDC

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MobiKwik, a leading digital wallet provider, has officially launched the full version of India’s Central Bank Digital Currency (CBDC) eRupee in collaboration with the Reserve Bank of India (RBI) and Yes Bank. This marks a significant milestone in the adoption of digital currency within the country, positioning MobiKwik as the first digital wallet to offer a fully operational eRupee wallet to its Android users. The launch aligns with the RBI’s broader vision of enhancing digital payments infrastructure and fostering financial inclusion through CBDC integration.

Meanwhile, CRED, a popular payments platform, has introduced a beta version of its eRupee wallet, also developed in partnership with RBI and Yes Bank. The phased rollout allows CRED to test and refine its CBDC functionality before a wider release. Yes Bank plays a crucial role as the first sponsor bank enabling CBDC issuance for third-party application providers (TPAPs) like CRED, demonstrating its commitment to fostering innovation and expanding the digital payment ecosystem.

The eRupee wallet enables seamless digital transactions by allowing users to send and receive funds both within eRupee wallets and to traditional bank accounts via UPI. This functionality supports both peer-to-peer (P2P) and peer-to-merchant (P2M) transactions, making digital payments more accessible and efficient. The interoperability of the eRupee with India’s Unified Payments Interface (UPI) ensures that users can transact effortlessly using existing UPI QR codes, further integrating CBDC into the nation’s digital economy.

By launching a full-scale eRupee wallet, MobiKwik and CRED are helping accelerate the adoption of India’s digital currency, paving the way for broader use cases in the future. With the backing of the RBI and Yes Bank, these platforms are setting a precedent for digital currency innovation, ensuring that users have access to a secure and efficient alternative to traditional payment methods. As more fintech players explore CBDC integration, the Indian digital payments landscape is poised for a transformative shift.