Şunun için etiket arşivi: electronics production

India has eliminated import duties on certain key components used in mobile phone production, as announced by Finance Minister Nirmala Sitharaman in the annual budget on Saturday. This move is expected to support local manufacturing efforts and benefit companies like Apple and Xiaomi. The electronics sector in India has seen significant growth, with production doubling in the last six years to reach $115 billion in 2024, making the country the second-largest mobile phone manufacturer globally.

Apple leads the Indian smartphone market, with a 23% share in total revenue for 2024, closely followed by Samsung at 22%, according to Counterpoint research. The components affected by the import tax cuts include items crucial for phone assembly, such as printed circuit board assembly, parts of camera modules, and USB cables, which were previously taxed at 2.5%.

These reductions are part of India’s strategy to strengthen its position in global supply chains amid challenges like U.S. President Donald Trump’s tariff threats and the shifting dynamics of U.S.-China trade tensions. India’s decision to lower tariffs comes as a response to warnings from the IT ministry, which noted that without these cuts, the country risked falling behind China and Vietnam in the smartphone export race. The changes aim to make India’s customs duty structure simpler and more trade-friendly, addressing issues like inverted duty structures that hinder efficient local production.