Government hikes customs duty on mobile phones to boost Make in India

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Arun Jaitley, India’s Finance Minister presented the Union Budget 2018 today. The expectations were huge because it is the last budget of the Narendra Modi Government before the upcoming general elections in 2019. In a bid to boost Make in India initiative, the Government has hiked the customs duty of imported smartphones to 20%. Moreover, the duty for the electronic components is also increased to 15%. The main idea behind the hike is to encourage local manufacturing and also to get more employment opportunities.

The increase in customs duty of phones will directly impact Apple, Honor and other manufacturers who import smartphones from outside India…

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