High-end phone smuggling is costing govt exchequer Rs 2,400 crore annually

As a result of this rampant smuggling, the government loses Rs 2,400 crore annually

The exchequer is taking a hit of Rs 2,400 crore per annum by losing over half the value of mobile phones which are sold at more than Rs 50,000 a piece because they are being smuggled into the country. 

The market for phones of this price is dominated by Apple, Samsung, and some models of Google Pixel. 

According to the data submitted to the Central Board of Indirect Taxes and Customs (CBIC) by the Indian Cellular and Electronic Association which represents the mobile device players, as much as Rs 8,000 crore worth of mobile phones in this segment — out