Duty cut on smartphone parts to hit electronics ecosystem, trigger job loss: GTRI

Any reduction in the customs duty on smartphone parts in the forthcoming budget will harm India's developing component ecosystem, discourage investment, increase imports, and make local firms uncompetitive, potentially resulting in job losses, think tank GTRI said on Tuesday.

- PTI

India's smartphone industry is a 'Make in India' success story, with 2023-24 production reaching USD 49.2 billion and exports at USD 15.6 billion, making smartphones the fourth-largest export after diesel, aviation fuel, and polished diamonds.

However, a few industry groups are pushing for further import tariff cuts on smartphone components in the Union Budget for FY26.