Section 232 had earlier allowed smartphones, laptops, and semiconductors to remain exempt from a 10% baseline tariff imposed in April
A top industry executive told Moneycontrol that the move will ensure Indian smartphones are not subject to any retaliatory or reciprocal tariffs
The industry has stressed that a reduction in import duties on key components would be essential for India to remain competitive, especially as U.S. President-elect Donald Trump’s proposed tariffs on Chinese imports could escalate to as high as 60 percent.
Mounting pressure from the electronics manufacturing industry seems to have influenced this development, as Chinese investments are crucial for broadening and deepening local supply chains.
The research also showed that the telecom domain tops hiring demand within the electronics industry, accounting for 64 percent of hiring, closely followed by lighting and automotive sectors.
The semiconductor industry in India is poised to grow and there is an urgent need for the Government to continuously reinforce the semiconductor policy, keeping the long term view in mind that will help build the ecosystem for ESDM.
The Central government proposed to give investment subsidies to the tune of Rs one lakh crore to give a big boost to the country's electronics industry in the next ten years, a key official said today.
The government has proposed to give a Rs 1 lakh crore investment subsidy to the country's electronics industry over a period of next 10 years, with an aim to give a boost to the sector, a key official said today.
Companies in the technology supply chain, especially those serving the consumer electronics industry, may be hurt by the earthquake and tsunami in Japan, Ticonderoga Securities said.