“The duty differential earlier was about 11.5% in favour of local manufacturing. The 10% customs duty will help push local manufacturing once again,” Intex chief financial officer and director, Rajeev Jain, said. “The (import) quantities, at least for us, is very small and therefore, the customs duty will not make much difference. “Consequently, consumers were expecting (prices of) imported phones (typically the high end phones which are usually imported) to have come down. However, with the 10% customs duty last night, the tax structure is again in favour of local manufacturing,” he added.

Source: Mint July 01, 2017 13:07 UTC