Commerce Ministry Data Reveals 40% Plunge in Electronics Device Imports

ENA Sectors 2024-04-08 17:18:37 New Delhi, Apr 8 (KNN) Imports of completely built electronics units, including smartphones, plummeted by a staggering 40 per cent in the April-January period of FY 2023-24, as per data released by the commerce ministry. In addition to the 40 per cent nosedive in imports of fully built devices, the commerce ministry data also highlights substantial decreases in the import of essential components used in smartphone manufacturing. Imports of plastic parts, including back covers, GSM antennas, and camera lenses, witnessed a 33 per cent drop in volume and a 26.5 per cent decrease in value compared to the same period last year. Similarly, imports of mechanical parts like vibrator motors, screws, and sockets declined by 4 per cent in volume and 1.6 per cent in value. To further boost local manufacturing competitiveness, the government reduced import duties on these component categories from 15 per cent to 10 per cent in the interim budget presented in February. The self-reliance drive is particularly evident in the case of charger adapters for mobile phones and other electronic devices. Imports of these adapters saw a remarkable 72 per cent fall in volumes during the April to January 2024 period compared to the previous fiscal year, although their import value marginally increased by 1.3 per cent. As India's local electronics manufacturing ecosystem continues to evolve and mature, the country is steadily reducing its reliance on imported components, thereby enhancing its self-reliance and competitiveness in the global electronics market. (KNN Bureau) 37341 https://knnindia.co.in/news/newsdetails/sectors/commerce-ministry-data-reveals-40-plunge-in-electronics-device-imports 2024-04-08 17:18:37 knnindia.co.in Commerce Ministry Data Reveals 40% Plunge in Electronics Device Imports