India eliminates import tariffs on select electronics and smartphone components

Here are more ⁠details:

• The affected items include essential components for wireless charging modules in smartphones, displays used in medical equipment and vehicles, as well as lithium-ion cells.
• The duty exemption will remain in effect until March 31, 2029.
• "This move is expected to enhance cost competitiveness, increase domestic value addition, and support localisation of high-value smartphone and electronics manufacturing," said Manoj Mishra, partner at consultancy firm Grant Thornton Bharat.
• Mishra added that removing duties on lithium-ion cell manufacturing could encourage further investment in local battery production for consumer electronics and electric vehicles.
• India has set a target to grow its electronics manufacturing industry to $500 billion by the fiscal year 2030.
• Over the past decade, smartphone production in India has surged 28 times, reaching 5.45 trillion rupees ($57 billion) in 2024/25.