India’s Budget 2021 Might Increase the Prices of Smartphones in the Country

Feb. 1, 2021

“Some parts of mobiles to move from NIL to 2.5% rate in customs duty,”the Finance Minister said on Monday. As a result, importing such parts from other countries will now cost more for importers as they have to pay 2.5% of the value of the components to the Indian government.

Apart from this, the government also increased the rate of customs duty for Printed Circuit Board Assembly (PCBA) of chargers or charging adapters from 10% to 15%.

Now, all of these budget changes are made by the government to push its“Make in India” initiative. However, there aren’t a lot of Indian brands that manufacture smartphones or smartphone components, althoughLava did make a grand comeback.

Moreover, most of the smartphones used by the country’s population are manufactured by foreign companies like China-basedXiaomi,Realme,Poco, Korea-basedSamsung, and the American giant,Apple.

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