Day before Interim Budget, Modi govt slashes import duty for mobile phone components to 10%

Ahead of the Interim Budget, the Modi government has announced a significant cut in the import duty levied on mobile phone components. The move is aimed at boosting exports from Asia’s third-largest economy. According to news agency Reuters, the Centre has decided to slash import duty on parts used for manufacturing mobile phones to 10 per cent from 15 per cent.

The finance ministry announced a reduction in import duties for various components, including battery covers, main lenses, back covers, and other plastic and metal mechanical items, bringing the rate down to 10 per cent.