West indian countries

India’s electronic import tariffs highest compared to peer countries

Representation image

New Delhi: A study by the Indian Cellular and Electronics Association found that India’s import tariffs in the electronics sector are higher than those of China, Vietnam, Thailand and Mexico. A key finding of the study was that while India has zero tariffs on 32 of the 120 tariff lines, other countries have zero tariffs. India’s tariffs are 85% higher than those of Thailand and Vietnam and 95% higher than those of China. The report also pointed out that tariffs in 2020 are higher than in 2014. The study found that higher tariffs negate support provided through PLI schemes.

Pankaj Mohindroo, President of ICEA, said: “A manufacturing target of US $ 300 billion by 2026 requires stability and prior consultation before finalizing tariffs. there is no local capacity. “

11

The ICEA has recommended that for India to integrate into global supply chains, its tariffs on inputs should at least match or be lower than those of its competitors.

12

In addition, consideration of tariff increases should only be considered in cases where there is significant domestic capacity or a clear roadmap with specific and well identified suppliers who can produce components for manufacturers at cost, quality. and a globally competitive scale.

444


Source link