Shulou(Shulou.com)11/24 Report--

CTOnews.com, February 9 (Xinhua) Indian Finance Minister Nirmala Sitharaman announced in his presentation of the 2023 federal budget that the government has decided to lower tariffs on smartphones, televisions, electric cars and many other goods. The PhoneArena report said the Indian government had proposed to reduce the basic tariff (BCD) rate on products other than agricultural products and textiles from 21 per cent to 13 per cent.

Tuyuan Pixabay finance minister proposed to reduce import tariffs on mobile camera lenses and their components used to produce mobile camera modules from 2.5 per cent to 0 per cent. In order to further strengthen the added value of domestic mobile phone production, the government will extend the preferential tariff on lithium-ion batteries for another year.

The finance minister said that as a result of various government initiatives, including phased manufacturing plans, India's mobile phone production increased from 5.8 million (worth 189 billion Indian rupees) between 2014 and 2015. (currently about 15.536 billion yuan) to 31 million units in the last fiscal year (worth more than 2.75 trillion Indian rupees, currently about 2260.5 billion yuan).

CTOnews.com learned that in order to increase the added value of TV production, Sitharaman also proposed to reduce tariffs on TV panel perforated components from 5 per cent to 2.5 per cent. In addition, it said imports of capital goods and equipment needed to produce lithium-ion batteries for electric vehicle batteries would be duty-free until March 31, 2024.

With regard to 5G services, the Minister stated that the School of Engineering would establish 100 laboratories and use 5G services to create applications to realize a range of new opportunities, business models and employment potential.

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