India aims to lower smartphone prices by 15% with a new tax reduction | Infinium-tech
Made in India smartphones are set to get 15% cheaper for local customers after new tax cuts were implemented by India’s Finance Minister.
The basic customs duty on smartphone components will be reduced by 15% in the Union Budget 2024 to make the devices more affordable and boost the mobile industry in India.
This reduction will only apply to parts, not fully built units – meaning only phones assembled in India will be affected by this change.
According to analysts, the move is expected to boost local assembly and attract global investments. It could cement India’s position as a global smartphone manufacturing hub and lead to a massive improvement in smartphone sales, especially those priced below Rs 25,000 (less than $300).
The “Make in India” initiative was launched almost 10 years ago by the Modi administration in an effort to promote digitalization and the implementation of smart technology by the Indian population.
Some of the most popular phones made under this campaign are the OnePlus Nord 4, Samsung Galaxy M35, and Xiaomi Redmi 13 5G. Apple also makes some of its iPhone 15 units in India, although it is not part of the government campaign.
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