Electronics and IT Secretary S Krishnan has said that the electronics and IT sector manufacturers are not overly concerned about the recent hikes in import duty by India's largest trading partner the US. However, he said the impact will depend on how the tariff situation plays out ahead.
He stated ‘We've been in regular consultation with manufacturers in India. That is something that we are speaking to them on an ongoing basis. They are not overly concerned right now, but it also depends on how this whole situation plays out. It's a dynamic situation.’
The US on April 3 imposed an additional 26% tariff on Indian goods, effective April 9. The sector players are of the view that the Indian industries are better placed as compared to their competitors in the electronics segment. While the US has imposed an additional 26% import duty on India, its competitor Vietnam is facing a 46% tariff, China 34%, Indonesia 32%, Taiwan 32% and Thailand 36%.
Mobile phone is the biggest contributor to India's electronics manufacturing landscape, with Apple and Samsung being the top exporter in the country. The majority of iPhones are made in China followed by India, while Samsung has its biggest factory in Vietnam after India.
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