Government looking to impose 5% - 10% duty on import of phones
The Dollar Business Bureau After the roll-out of Goods and Services Tax in July, the government proposes to impose a 5% - 10% customs duty on imported handsets. The import restriction is being suggested to push local manufacturing of mobiles, for which, India is currently the second biggest global market. Ministry of Electronics and Information Technology, in consultation with the Attorney General, has confirmed that the proposed hike in import duty will not violate the Information Technology Agreement (ITA). The Ministries of IT, Commerce, Finance and Telecom are going to further examine the tax proposition. Reportedly, 30% of handsets sold in the country are imported. To help Indian manufacturing units compete with cheap imports, mostly from China, the Indian government is mulling a tariff barrier. The move will force affordable phone ...
Government okays Rs 10,000 crore incentive for electronics manufacturing
The Dollar Business Bureau The government's approval of a Rs 10,000 crore incentive by March 2018 for electronics manufacturing in India has brought the industry closer its goal of 'net zero imports' in electronics by 2020. This incentive, the government says, will bring employment to as many as three crore people. Consumer Electronics and Appliances Manufacturer Association (CEAMA) has welcomed the move that is likely to reduce India's dependence on imports for many components required in the manufacture of handsets. The apex body of electronics manufacturers in India has shown its whole hearted support for the 'Make in India' vision through its website. It truly believes that with the right kind of duty cuts and manufacturing incentives, India can become a manufacturing power supplying handsets to its population of a billion people. Currently, the ...
Gionee signs MoU with Haryana govt for investment of Rs 500 cr
PTI Gionee mobile phones would now be manufactured in Haryana as the company today signed an MoU with the state government to set up its phone manufacturing hub with an initial investment of Rs 500 crore which, later on, would be increased to Rs 1,500 crore. The Memorandum of Understanding (MoU) was signed in the presence of Chief Minister Manohar Lal Khattar and state industries minister Vipul Goel by Chairman, Gionee Mobiles, Liu Lirong and Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) here. Goel said that the Mobile Manufacturing Hub would be set up over an area of 40-50 acres in Faridabad and would provide employment to 28,000 people in next three years. This, he said, would be a major ...
Mobile handsets market dips by 15% in the first three months of 2015
The Dollar Business Bureau The Indian mobile handsets market declined 15% in terms of overall sales in the first three months of 2015 even as the market leader Samsung managed to retain its leadership position, a study said on Wednesday. Sluggish sales registered in both smart phone and feature phone segments. However, smart phones sales declined by only 7% as compared to more than 18% in the case of feather phones segment. Of the total 53 million mobile handsets sold during the first quarter of this year, 37% (19.5 million) were smart phones, said the report released by Cyber Media Research (CMR) on Wednesday. Experts attributed the downward sales to the lack of customers’ interest in new models and change in ...
