comscore Union Budget 2022: Mobile phones set to get cheaper in India

Union Budget 2022: Mobile phones set to get cheaper in India

While the budget didn’t include a reduction in tax slab for salaried employees as we all expected, it highlighted duty concession on some mobile phone parts, wearables and more.

union budget 2022

Finance Minister Nirmala Sitharaman announced the Union Budget 2022 – 2023 earlier on Tuesday. While the budget didn’t include any reduction in the tax slab of salaried employees as we all expected, it did highlight duty concession on some mobile phone parts, wearables, and more. Also Read - Airtel, Vi, Jio issue warning of 5G phone shortage in India: Here's why

“Duty concessions are being given to parts of the transformer of mobile phone chargers and camera lens of mobile camera module and certain other items. This will enable domestic manufacturing of high growth electronic items,” FM announced. Also Read - Want to pursue a career in gaming or animation in India? There’s good news for you

With the reduction in duty on parts of mobile phones, it won’t be wrong to say that smartphones are set to get cheaper in the country, but not by a very large margin. FM believes that the duty concession on mobile parts will boost domestic manufacturing of electronic items. Also Read - Union Budget 2022: Govt proposes new Digital University, online classes on TV, radio, phones

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Most smartphone manufacturers in the country including Xiaomi, Realme, Apple, Samsung, Oppo, OnePlus, Vivo, among others are driven by the make in India initiative.

Major smartphone brands manufacture most of their devices in the country, which makes futuristic technology easily accessible to the masses. Local assembling reduces manufacturing costs by a large margin when compared to importing devices.

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The Budget 2022 also announced initiatives to boost local manufacturing of other electronic items such as wired and wireless earphones, smartwatches, and fitness bands, among others.

Sitharaman said, “customs duty rates are being calibrated to provide a graded rate structure to facilitate domestic manufacturing of wearable devices, hearable devices, and electronic smart meters.”

FM also announced fresh details related to 5G auction and network rollout in the country, e-passports, digital payments and banking, EV battery swapping policy and much more.

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  • Published Date: February 1, 2022 2:47 PM IST

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