Technology Budget 2024: FM Sitharaman announces major reduction in basic customs duty for mobile phones and chargers

Finance Minister Nirmala Sitharaman has announced a substantial reduction in customs duty on mobile phones, mobile PCBAs and mobile chargers from the existing 20% to 15%. Sitharaman said that the Indian mobile industry has matured, with domestic production increasing threefold and exports of mobile phones increasing 100-fold in the last 6 years.