Budget 2024: Govt reduces mobile custom duty by 15% paving way for more affordable smartphones

In her 2024 budget speech, Finance Minister Nirmala Sitharaman revealed a significant tax reduction of up to 15 percent on mobile phones, mobile PCBs, and chargers. This move is expected to make smartphones more affordable and boost domestic manufacturing. Sitharaman highlighted the maturity of the Indian mobile industry and emphasised that this tax cut will benefit original equipment manufacturers (OEMs) by lowering production costs within India.