TV prices to come down by up to Rs 3,000 as Govt reduces custom duty on imported parts

Locally manufactured television sets will become cheaper by up to Rs 3,000 with finance minister Nirmala Sitharaman on Wednesday announcing reduction in basic customs duty (BCD) on imported parts to 2.5 per cent from 5 per cent.

The reduction of customs duty on parts of open cells will help to effectively reduce the price of TVs by around 5 per cent, according to some industry players.

Open cell panels account for over 60-70 per cent of the cost of manufacturing LED TV sets. Most TV makers import these panels. In her Budget speech, finance minister Nirmala Sitharaman said “… To promote value addition in the manufacture of televisions, I propose to reduce the basic customs duty on parts of open cells of TV panels to 2.5 per cent.”