Highlights

  • Concessions in customs duty given to consumer electronics manufacturers
  • Move to promote manufacturing of wearables, mobile phone components
  • Concession comes amid global chipset shortage

Latest news

Manipur landslide: 8 people killed, nearly 70 missing

Manipur landslide: 8 people killed, nearly 70 missing

The India Story Episode 13 | Maharashtra political crisis: A game of twists and turns

The India Story Episode 13 | Maharashtra political crisis: A game of twists and turns

Eknath Shinde chief minister, Devendra Fadnavis his deputy

Eknath Shinde chief minister, Devendra Fadnavis his deputy

India Vs England: Fast bowler James Anderson can't wait to play for fearless Three Lions

India Vs England: Fast bowler James Anderson can't wait to play for fearless Three Lions

India Vs England 5th Test: James Anderson, Sam Billings included in England's Playing XI

India Vs England 5th Test: James Anderson, Sam Billings included in England's Playing XI

Budget 2022: Electronics manufacturing to get concessions in customs duty

Concessions in customs duty will be given to manufacturers of consumer electronics devices, to promote manufacturing across wearables and specific mobile phone components.

Union Budget 2022: Finance Minister Nirmala Sitharaman announced during the Union Budget speech in parliament that concessions in customs duty will be given to manufacturers of consumer electronics devices, to promote manufacturing across wearables and specific mobile phone components.

"Customs duty rates have been calibrated to provide a greater rate structure to facilitate domestic manufacturing of wearable devices, shareable devices, and electronic smart meters. Duty concessions are being given to parts of transformer of mobile phone, chargers, camera lens of mobile camera module, and certain other such items. This will enable domestic manufacturing of high growth electronic items," the Finance Minister said.

Budget 2022: Digital rupee to be issued by RBI in 2022-23

This concession in customs duties comes at a time when the industry has been facing a massive shortage in components, particularly chipsets, which has caused problems across the supply chain. Industry body Cellular Operators Association of India had estimated that high customs duty was disrupting the cost effectiveness of telecom companies. Around 85% of telecom equipment in India is imported.

Budget 2022 Live Updates: Record Capex, Tax on Crypto & No Income Tax relief for middle class

Up Next

Budget 2022: Electronics manufacturing to get concessions in customs duty

Budget 2022: Electronics manufacturing to get concessions in customs duty

Snapchat Plus launches for $4/month but does not remove ads

Snapchat Plus launches for $4/month but does not remove ads

5 problems with viral 'flying hotel' design: nuclear-powered giant plane impossible to make?

5 problems with viral 'flying hotel' design: nuclear-powered giant plane impossible to make?

Oppo Reno 8 series with MariSilicon X NPU to launch in July

Oppo Reno 8 series with MariSilicon X NPU to launch in July

Sony launches Inzone accessories for PC gaming

Sony launches Inzone accessories for PC gaming

Spotify Supergrouper lets you form artist-based custom playlists

Spotify Supergrouper lets you form artist-based custom playlists

More videos

Get iPhone 13 for under Rs 44,000 on Croma

Get iPhone 13 for under Rs 44,000 on Croma

Pure VPN shuts down its servers in India

Pure VPN shuts down its servers in India

Xiaomi 12S series confirmed to feature Leica-branded cameras

Xiaomi 12S series confirmed to feature Leica-branded cameras

Motorola G42 India launch on July 4

Motorola G42 India launch on July 4

Nothing Phone (1) to be sold both online and offline

Nothing Phone (1) to be sold both online and offline

iQOO 10 to feature gimbal stabilization for its main camera

iQOO 10 to feature gimbal stabilization for its main camera

Apple AR headset rumoured to be powered by an M2 chip

Apple AR headset rumoured to be powered by an M2 chip

How to pre-book Nothing Phone (1) ahead of launch

How to pre-book Nothing Phone (1) ahead of launch

Get up to ₹12,000 off on Samsung Galaxy M52

Get up to ₹12,000 off on Samsung Galaxy M52

Samsung Galaxy Book 2 Review: The dependable laptop that’s good at everything?

Samsung Galaxy Book 2 Review: The dependable laptop that’s good at everything?

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.