ã€Global Network Technology Reporter Zhang Yang】 According to the "Economic Times" reported on July 3, the Indian government will levy a 10% basic consumption tax on smart phones, will ensure the continued supply of incentives to the local manufacturing industry, thus expanding the investment to spare parts manufacturing Industry ecology.
This collection of taxes and fees is a good news for Indian domestic companies and Foxconn, Flex, Salcomp, and iPhone makers such as Wistron, Samsung and other foreign companies. Samsung has invested in India as an example. With millions of dollars, more than 70 mobile phone and spare parts manufacturing plants have been set up, and the additional investment value generated has reached 1.05 billion rupees, and this value is likely to increase further.
Dixon Technologies manufactures mobile phones for Intex, Panasonic, and Jinli Foundry. Sunil Vachani, the agency’s executive chairman, said that “due to huge industrial uncertainties, the past six to eight months, Investment is in a basically stagnant state, but now the momentum of investment will pick up, and more and more people will invest in integrated manufacturing and parts manufacturing."
Relevant experts stated that "Samsung has announced that it will prepare India as its hub for manufacturing and exporting to Europe, the Middle East and Africa in 2020. Apple has already begun assembling the iPhone SE model in India through Wistron. It may also expand in the future. Other models, and these will further benefit from the excise tax."
Before the implementation of the excise tax, the structure of the tax caused the cost of imported mobile phones to be 11.5% higher than the cost of local manufacturers. Now that the tax rate for all mobile phones has reached 12%, the tax rate gap has been completely smoothed out. As well as foreign mobile phone manufacturers' acclaim, Arvind Vohra, General Manager of Jinli India stated, “This will make the whole machine import uncompetitive.â€
The decision to impose a basic consumption tax will also remove the obstacles to the phased manufacturing plan, and the tax bonus provided will also provide a road map for domestic mobile phone component manufacturers. This will also help India become an export center for Samsung and other manufacturers, as well as participants from manufacturing ecosystems in the Chinese mainland and China Taiwan market to invest in India.
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