 "mobile manufacturing, phone")
A cut in duty on mobile phone parts is the "good logical next step" for India, as the nation aims to boost production and exports, the electronics minister told CNBC TV-18 in an interview on Friday.
"We have to move from import substitution to export-led growth, that is the transition we need to make. That requires a totally different mindset and a totally different structure," Ashwini Vaishnaw said.
Asked if there is a case for cuts in tariffs, Vaishnaw said "absolutely, specially for the component ecosystem."
India is considering import duty cuts on components key to producing high-end mobile phones, in a potential boost for companies like Apple and the country's exports, government sources told Reuters last week.
Companies in the sector have been pushing for cuts on nearly a dozen components to reduce the cost of making smartphones in India and level up the playing field, with regional competitors such as China and Vietnam.
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A decision on the cuts will be taken by the finance ministry when it finalises the budget for Feb. 1, Reuters reported.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
