Indian mobile industry needs competitive tax regime: ICEA


New Delhi
The Indian mobile manufacturing industry needs a competitive direct tax regime to grow and pose a tough competition to other mobile manufacturing countries, said Pankaj Mohindroo, Chairman of the Indian Cellular and Electronics Association (ICEA).
Speaking to reporters here on Wednesday, Mohindroo said the industry body has also given recommendations to the government on the National Policy on Electronics 2018 (NPE) and sought for a competitive direct tax rates, along with a proactive Intellectual Property Rights (IPR) regime.
"We will have to configure a competitive direct tax regime since we are also benchmarked with China and Vietnam which also offer an extremely competitive direct tax regime," said the letter dated November 16 to the Secretary, Electronics and IT Ministry.
Mohindroo said that there are many countries which want to grow their mobile and electronic equipment industry such as Nigeria, Indonesia, Thailand, Turkey, South Africa and so on, which can be major competitors for the Indian industry.
Although he acknowledged that the Indian mobile industry is going through difficult times, he noted that globally too the situation is grim with many companies shutting down over the last few years.
The ICEA Chairman further said that the industry body has a vision to create over 50 lakh jobs and 1,800 new factories over the next six to seven years years.

Also Read

Mobile makers allege duty evasion in handset imports from Asean

India should focus on export-oriented mobile manufacturing: Report

Govt waives import duty on 35 capital goods to boost mobile phone manufacturing

India's first lithium-ion cell manufacturing plant to come up in Andhra

Environment Min allows import of second hand machinery for electronics plant

Sonepur cattle fair begins in Bihar

EU again rejects Italy budget

EU favours implementation of Iran N-deal: Envoy

WhatsApp appoints Abhijit Bose as its India head

India tops EU's external agenda priorities: Envoy

Currently, the number of factories producing mobile handset and accessories stands at 268 and the industry employs 6.7 lakh people, he said quoting a survey by the ICEA.

Disclaimer: No Business Standard Journalist was involved in creation of this content

First Published: Nov 21 2018 | 6:16 PM IST

Explore News