Oct 12, 2018
Govt raises import duties up to 20% on telecom equipment, components
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.