 "mobile manufacturing, phone")
The mobile phone sector has witnessed remarkable growth under the production-linked incentive (PLI) scheme, with one in four phones produced being exported, and the export value nearly doubling from $7.2 billion in 2022 to almost $14 billion in 2023.
To bolster this growth, the government recently reduced import tariffs on specific mobile phone components from 15 per cent to 10 per cent, just before the Budget announcement. In this context, we’ll explore the implications of these tariff cuts, the current state of India’s mobile phone industry, past challenges, and potential growth scenarios.
The recent tariff cuts are expected to decrease
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