Budget 2024: Tech Inc for fewer tariffs, Rs 1 trillion deeptech fund

To develop a strong electronics components and sub-assembly ecosystem, the tech industry has demanded fiscal support and streamlining of the input tariffs in the sector from the government which is consulting all the stakeholders before the upcoming Union Budget 2024-25.

“We propose reducing the current seven slabs to three slabs. Aligning our tariff structure with those of competing electronics manufacturing nations will boost cost competitiveness, simplify trade, and attract global value chains,” said Pankaj Mohindroo, Chairman of the India Cellular and Electronics Association (ICEA).