Union Budget 2025: Govt removes import duties on smartphone parts to boost local production

Finance Minister Nirmala Sitharaman in the Union Budget 2025 announced the removal of import duties on key components used in mobile phone production. This is seen as a major step in enhancing local manufacturing and boosting the electronics sector and it is expected to benefit major players like Apple and Xiaomi and could help India solidify its position as a mobile manufacturing powerhouse.