Corporate tax relief: India’s mobile handset industry may become biggest beneficiary, says ICEA

NEW DELHI: The Indian government’s latest move to bring a competitive income tax rate of 15% for new manufacturing units will further promote investments into the country’s mobile handset sector, Indian Cellular and Electronics Association said. It added that the mobile handset industry could become the biggest beneficiary of the latest move by the government.

ICEA Chairman, Pankaj Mohindroo said that the global investment community, especially in the mobile and electronics sector, has been looking at alternative manufacturing locations beyond China based on the current global economic scenario. “…it is envisaged that this move to reduce corporate income tax could not have come at a more opportune time,” he added.