Basic customs duty waiver on key electronic parts will deepen value chain, says IT Secretary

The government’s move to waive basic customs duty on key components for electronics manufacturing will help deepen the value chain and the ecosystem, IT Secretary S Krishnan said on Thursday.

Terming it an “important change”, Krishnan said the move will also stimulate the electronics component industry in the country.

“Based on industry representations, this is something that we had taken up with the Ministry of Finance. We are very happy that these notifications have been issued. This will really stimulate the electronics industry, especially the electronic component industry in the country,” Krihnan said on the sidelines of the CII GCC Business Summit.