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India has increased the import tax on dozens of electronic products such as mobile phones and television sets, a government statement said, to help curb supplies from overseas and build up the domestic industry.
The rise in tax from 10 percent to 15 percent on handsets will make imports of phones - including most of Apple’s iPhone models - more expensive at a time the company’s revenue growth is slowing in India’s $10 billion smartphone market.
Prime Minister Narendra Modi has launched a flagship Make-in-India program to expand the domestic industrial base, and one of the areas showing success is electronics.
Pankaj Mohindroo, president of the Indian Cellular Association, said on Friday the tax hike will boost domestic manufacturers who are making about 500 million cellphones a year, more than double the output three years ago.
Eight out of 10 phones sold in 2017 have been made locally, data from Counterpoint Research showed.
Prime Minister Narendra Modi has launched a flagship Make-in-India program to expand the domestic industrial base, and one of the areas showing success is electronics.
Pankaj Mohindroo, president of the Indian Cellular Association, said on Friday the tax hike will boost domestic manufacturers who are making about 500 million cellphones a year, more than double the output three years ago.
Eight out of 10 phones sold in 2017 have been made locally, data from Counterpoint Research showed.
India raises import tax on cellphones, move to hurt Apple
The rise in tax from 10 percent to 15 percent on handsets will make imports of phones - including most of Apple’s iPhone models - more expensive at a time the company’s revenue growth is slowing in India’s $10 billion smartphone market.
Prime Minister Narendra Modi has launched a flagship Make-in-India program to expand the domestic industrial base, and one of the areas showing success is electronics.
Pankaj Mohindroo, president of the Indian Cellular Association, said on Friday the tax hike will boost domestic manufacturers who are making about 500 million cellphones a year, more than double the output three years ago.
Eight out of 10 phones sold in 2017 have been made locally, data from Counterpoint Research showed.
Prime Minister Narendra Modi has launched a flagship Make-in-India program to expand the domestic industrial base, and one of the areas showing success is electronics.
Pankaj Mohindroo, president of the Indian Cellular Association, said on Friday the tax hike will boost domestic manufacturers who are making about 500 million cellphones a year, more than double the output three years ago.
Eight out of 10 phones sold in 2017 have been made locally, data from Counterpoint Research showed.
India raises import tax on cellphones, move to hurt Apple