Grey market sales of high-end phones causing revenue loss of Rs 2,500 cr: ICEA

New Delhi: Sale of high-end mobile phones in the grey market is causing an estimated loss of Rs 2,500 crore annually to the exchequer, mobile industry body India Cellular and Electronics Association (ICEA) has claimed.

The industry body has suggested imposing a maximum customs duty of Rs 4,000 on handsets priced above Rs 20,000 to discourage duty evasion and wipe out the premium for illegal sales.