Finance Minister Nirmala Sitharaman has announced crucial reductions in import duties on several key components.

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Lifting import duties on these components could amplify local production efforts by smartphone makers in India.

One of the major changes includes a reduction in the basic customs duty (BCD) on mobile phones, mobile phone chargers, and printed circuit board assemblies (PCBAs). The duty has been lowered from 20 ...

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Lifting import duties on these components could pave the way for smartphone makers to scale up manufacturing in India.

The 2.5 duty did not promote manufacturing but, in fact, simply resulted in increasing costs. The removal will enable ...