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India cuts import duty for mobile phone components to 10%

NEW DELHI, Jan 31 (Reuters) – India has cut the import duty on some parts used for manufacturing of mobile phones to 10% from 15%, a move benefiting companies like Apple, opens new tab and Xiaomi, opens new tab in manufacturing in Asia’s third-largest economy. The import duty on parts such as battery covers, main camera lens, back cover, other mechanical items of plastic and metal, GSM antenna, and other parts, has been reduced to 10%, the finance ministry said in a notification issued late on Tuesday. The import duty on inputs used to manufacture these components has been cut

World-beating growth? Not for India’s rural majority

BAHBOLIYA MAHADA, India, Jan 31, (Reuters) – Jakir Khan, an Indian farm worker, says he has cut down on food as his income has halved. There are fewer and fewer opportunities, he says, for employment in his small village in Uttar Pradesh state. Khan says his monthly income has come down to 5,000 Indian rupees ($60.17) from 10,000 Indian rupees before the pandemic, while his weekly expenses on food have gone up 60%. In November, he took a 100,000 rupees loan from relatives. Khan, like millions of others, is struggling with the economic slowdown in rural India, home to 60%

Chandigarh mayoral polls: AAP moves High Court, seeks fresh polls under supervision of retired judge

Chandigarh, Jan 30 (PTI) The AAP on Tuesday moved the Punjab and Haryana High Court, seeking setting aside the mayoral poll results and demanding fresh elections under the supervision of a retired HC judge. The development came hours after the BJP swept Chandigarh mayoral polls, retaining all the three posts, in a setback to the Congress-AAP alliance which has alleged tampering with ballot papers by the presiding officer. The petition was filed by AAP councillor Kuldeep Kumar, who was the candidate for the mayor post, according to party sources. The petitioner sought setting aside the process of the election of

What industry wants from India’s budget

NEW DELHI, Jan 30 (Reuters) – India’s Finance Minister Nirmala Sitharaman will on Thursday present the last federal budget of the current Narendra Modi-led administration before the country heads for polls in the summer. Industry lobby bodies are suggesting the government continue spending on infrastructure, expand incentives for manufacturing and tweak import taxes on inputs for certain goods. The government is considering raising capital spending to as much as 12 trillion rupees from the current year’s plan of 10 trillion rupees. India’s electronics minister has made a case for lowering duty on mobile phone components. INVESTMENT SPENDING The government should

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