Import duty cut may boost India’s phone exports to $39 billion by 2027: ICEA

Reiterating the demand for a reduction in tariffs and duties on components and subassemblies imported for making smartphones in India, the India Cellular and Electronics Association (ICEA) on Wednesday said such a reduction in input tariffs could increase the country’s smartphone exports by nearly four times to $39 billion (around Rs 3.2 trillion) by FY27, from $11 billion (Rs 90,000 crore) in FY23.

Similarly, the tariff rationalisation could also increase the domestic production of mobile phones to $82 billion (Rs 6.8 trillion) by FY27 from $44 billion (Rs 3.5 trillion) in FY23, thereby creating 3 million jobs.