“As a result of the various initiatives of the government, including phased manufacturing programs, mobile production in India increased from 5.8 crore units valued at Rs 18,900 crore in 2014-15 to 31 crore units valued at Rs 2,75,000 crore in the last financial year,” Sitharaman said in her Union Budget speech.
Sitharaman said that the central government will exempt customs duty on imports of certain parts such as camera lens. Furthermore, concessional duties on lithium ion cells for battery will continue for one more year.
The FM also said that the government will also boost television production in the country by reducing basic custom duties on parts of open cells of TV panels to 2.5%.
Smartphone production in India
Xiaomi, Samsung and Apple are among various top brands that are assembling smartphones in India. Apple, which started assembling its flagship iPhone 14 in India last year, has been producing older models since 2017 in the country.
Piyush Goyal, India’s minister of commerce and industry, recently called Apple “another success story” and said that the Cupertino-based company is looking to manufacture 25% of all of its iPhones in India
“They’re [Apple] already at about 5-7% of their manufacturing in India. If I am not mistaken, they are targeting to go up to 25% of their manufacturing,” Goyal said while speaking at the Inception Meeting of Business 20 (B20) earlier this month.
In November last year, Telecom and IT Minister Ashwini Vaishnaw said that the biggest unit to manufacture Apple iPhone in India will come up at Hosur near Bengaluru.
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