GUWAHATI: Finance Minister Nirmala Sitharaman has announced a significant reduction in customs duty on mobile phones, mobile PCBAs, and mobile chargers, lowering the rate from 20% to 15%. This was announced as a part of the Union Budget 2024 on July 23.
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During her budget speech, FM Sitharaman highlighted the growth of the Indian mobile industry, stating, “With a three-fold increase in domestic production and almost a 100-fold jump in exports of mobile phones over the last six years, the Indian mobile industry has matured. In the interest of consumers, I now propose to reduce the BCD (Basic Customs Duty) on mobile phones, mobile PCBA, and mobile chargers to 15%."
Earlier in January, the Union government also reduced the import duty on several components used in mobile phone manufacturing from 15% to 10%. This reduction applied to inputs such as battery covers, main lenses, back covers, antennas, SIM sockets, and various other mechanical parts made of plastic and metal.