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Tuesday, December 24, 2024 | 07:29 PM ISTEN Hindi

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Govt raises import duties up to 20% on telecom equipment, components

The latest move brings the restrictive measures imposed by India to a total of six times in the current year

import, importers
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Total buyer credit for the top 160 importers was Rs 331 bn in FY17

Subhayan Chakraborty New Delhi
The government on Thursday raised tariffs on certain telecom equipment and components by up to 20 per cent, in its efforts to rein in the widening current account deficit (CAD).

Set to go live from Friday onwards, the latest set of imports includes equipment used for industrial use as well as a few components for mobile devices. These had a total import bill of nearly $5 billion in 2017-18 (FY18). 

India imported $21 billion worth of electronics in FY18, led mostly by mobile phones and their components, making up the third-biggest chunk of the import bill after crude oil and gold. 

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