India’s decision to cut import duty on mobiles, key parts to benefit Apple

India announced it will cut import duty on mobile phones and some key parts to 15% from 20%, a move that will directly benefit Apple, which still imports its high-end smartphones into the country despite increasing local production.

Presenting the annual budget for 2024/25 in parliament on Tuesday, India’s finance minister Nirmala Sitharaman said import tax on mobile phones, printed circuit board assembly (PCBA) and mobile chargers is in the “interest of consumers.”