Today, during the presentation of the Union Budget 2024-2025, Finance Minister Nirmala Sitharaman revealed that the Indian government will reduce the basic customs duty on mobile phones and chargers to 15%.

“With a three-fold increase in domestic production and almost 100-fold jump in exports of mobile phones over the last six years, the Indian mobile industry has matured. In the interest of consumers. I now propose to reduce the BCD (Basic Customs Duty) on mobile phones, mobile PCBA and mobile chargers to 15%,” said Sitharaman.

This decision, Sitharaman said, aims to support domestic manufacturing, promote the competitiveness of exports, amplify local value addition, and simplify taxation.

Through smartphone manufacturing, Prime Minister Modi intends to attract companies such as Apple, Samsung, and Foxconn, boosting the Indian economy and creating jobs. Last year, India saw a 16% year-on-year production increase to $44 billion.

Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar recently voiced his concerns about the high tariffs within India, which are making the nation uncompetitive. “We need to shift tariff policy to suit our new ambitions—exports, not domestic,” he said.

Pankaj Mahindroo, the Chairman of the India Cellular and Electronics Association (ICEA), said the association recommended reducing BCD on mobile phones. He said this decision will improve manufacturing, exports, and the nation’s competitiveness.

Sitharaman presented her seventh consecutive Union Budget today, becoming the only Finance Minister to achieve this feat.

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