Illegal import of smartphones causing revenue loss of ₹2,500 crore for govt: ICEA

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

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

A basic customs duty (BCD) of 20 per cent is imposed on imported handsets at present.