FM prepares ground for new electronics policy to boost local production

But Customs duty hike may lead to price rise in EVs, ACs, refrigerators & handsets

With an aim to reform the country’s electronic manufacturing sector, finance minister Nirmala Sitharaman has introduced revised import duty rates for some key components used in mobile handsets and consumer appliances. 

The move comes at a time when the government is finalising a new electronics manufacturing policy to boost local production. But it may come with a downside risk of further rise in prices of several products.

In her second Budget on Saturday, the minister announced that the government will soon come up with a new policy to promote local manufacturing of electronic items. 

While, the fineprint is yet to