This means that Apple iPhones made in India may become more affordable in the coming fiscal year.
Digital Desk: The Apple iPhone will most likely become cheaper in India, as Finance Minister Nirmala Sitharaman has announced a reduction in customs duty on the import of certain smartphone parts and inputs.“To further deepen domestic value addition in manufacture of mobile phones, I propose to provide relief in customs duty on import of certain parts and inputs like camera lens and continue the concessional duty on lithium-ion cells for batteries for another year.” Sitharaman said in her speech while presenting the Union Budget 2023-24.
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This means that Apple iPhones made in India may become more affordable in the coming fiscal year.
Until now, the custom duty on camera lenses and their inputs/parts for use in the manufacture of camera modules for cellular phones was 2.5%, and there will be custom duty on the same in the coming year.
Apple is rapidly increasing iPhone production in India, and if reports are correct, India may soon overtake China as the world's largest Apple iPhone manufacturer.
Apple also began manufacturing the flagship Apple iPhone 14 models in India a few months ago.
Apple iPhone production in India began in 2017 with the release of the Apple iPhone SE 2.
In India, the tech giant currently manufactures the iPhone SE, iPhone 12, iPhone 13, and iPhone 14.
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