Budget 2023: The finance minister also announced a reduction of customs duty on parts of open cells of TV panels to 2.5 per cent from 5 per cent earlier.
The government’s decision to remove import duty from the camera lens and its components will benefit mobile phone manufacturers in India, and it should be extended to all other electronic product segments that use camera modules, electronic components industry body ELCINA said on Thursday.
To deepen domestic value addition in the manufacture of mobile phones, Finance Minister Nirmala Sitharaman in her budget speech announced relief in customs duty on the import of certain parts and inputs like a camera lens and continued the concessional duty on lithium-ion cells for batteries for another one year.
“Decision to remove import duty on the camera lens and its components will help mobile phone companies and electronic manufacturing services (EMS) companies shortlisted under the PLI scheme. Government should extend the benefit of importing camera lenses at nil customs duty to other product segments as well. It will help improve product quality as well as lowering the cost of products like CCTVs, laptops etc,” ELCINA Secretary General Rajoo Goel told PTI.
The extending benefit of the camera lens at nil import duty to other segments will be in line with the government vision to boost overall electronics production as well as export from India, he added.