Budget 2022: Customs duty to be calibrated; phones, bands, TWS may become cheap1 min read 01 Feb 2022, 04:51 PM IST
FM said that domestic manufacturing of wearable and hearable devices will get boosted by it
This reduction will help OEMs contain the cost by absorbing frequent price hikes
The Union Budget 2022 presented today mentioned a cut in the customs duty on the parts which are being used in the manufacturing of a smartphone and its related ecosystem. Finance Minister Nirmala Sitharaman in her Budget speech said that it will boost the local manufacturing of electronics items. The FM said that domestic manufacturing of wearable and hearable devices will get boosted by it. Duty concessions were also announced on parts of phone chargers and phone camera modules.