India has raised the import tax on smartphones and several electronic products like television sets. A latest statement by the government says so. This is to regulate the supplies of the products from abroad and increase their manufacturing domestically within the country.
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The tax has been increased from 10 percent to 15 percent for the import of the phones. This is seriously going to affect the Apple smartphones. At a time when the revenue of Apple is decreasing in India, this is going to be a huge blow for them.
Earlier, the Prime Minister of India, Narendra Modi launched a campaign, ‘Make In India’, that has attracted several leading tech firms to establish their manufacturing units in the country. This new decision by the government will now certainly prompt the ones who still haven’t tried the “Make in India” initiative.
Pankaj Mohindroo, the president of Indian Cellular Association said that this decision by the government will increase the sales of domestic products who are developing more than 500 million phones per year. As per a report by the Counterpoint Research, every 8 out of 10 phones that went on sale in 2017 have been made domestically.
Giants such as Samsung Electronics do the assembling of their products that they sell in India within the country. However, the Apple currently assembles only iPhone SE models in India. Though the company has been given tax relief and a range of incentives to expand its sales in India, a few government officials are likely to not give any exemptions for the company.
Besides the mobile phones, the Indian government has also increased the import tax on video cameras to 15 percent from 10 percent.
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