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India extends tax exemption on mobile accessories, components
NEW DELHI, Jul 6, 2009 (Asia In Focus via COMTEX) --
The Indian government on
Monday extended the four per cent countervailing duty (CVD)
exemption on imported mobile phone accessories and components
by a year, a move that would encourage manufacturing of
handsets in India but not impact consumer prices. "Full
exemption from CVD of four per cent was available to
accessories, parts and components imported for the
manufacturing of mobile phones till the 30th of June, 2009. I
propose to re-introduce this exemption for another year,"
Finance Minister Pranab Mukherjee announced in the Budget for
2009-10.
* Indian Cellular Association (ICA) president Pankaj
Mahindroo said the one-year extension of exemption would not
have any impact on the existing prices of mobile phones, but
this would certainly boost manufacturing in India by global
handset makers, besides helping Indian brands to manufacture
phones in the country, who were now importing phones.
* Korean handset maker and number two player in India
SAMSUNG said there would be no changes in terms of end consumer
prices.
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