Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
Powered by cricketnext logo
News18 » Business
2-min read

Govt Wants Apple to Consider New Policy For Local Manufacturing

The phased manufacturing programme was proposed by a joint panel of the industry and the government - Fast Track Task Force. The panel set up under the MeitY has set target of 500 million handset production by 2019 and export target of 120 million mobile phones by 2019-20, taking annual manufacturing output in the range of Rs 1.5-3 lakh crore.

PTI

Updated:April 29, 2017, 11:08 PM IST
facebookTwitter Pocket whatsapp
Apple, Lawsuit, WiLan, San Diego Jury, Technology News
(Image: Reuters)

New Delhi: The government wants iPhone maker Apple to consider a new manufacturing scheme offering duty benefits to set up its plants in the country.

"Apple had asked for a set of concessions. For a period of 15 years all the components that Apple imports, they want them to be free of duty. We have a phased manufacturing programme (PMP) because we want more and more value addition to come to the country. We want them to understand how this PMP will work and how they can dove tail into that," Ministry of Electronics and IT Secretary Aruna Sundararajan told reporters on Saturday.

She was speaking on the sidelines of the annual session of the Confederation of Indian Industry (CII).

IT and Law Minister Ravi Shankar Prasad has approved PMP and the government set to notify it.

"Right now the value addition is minimal. We want to take it up. For that purpose we have just announced phased manufacturing programme for mobile phones," Sundararajan said.

According to Indian Cellular Association, the PMP is expected to increase local value addition in mobile phone manufacturing to increase to 39-50 per cent in next 3 years.

Under PMP, the government has already imposed additional duty on import of mobile charger, battery pack and wired headset in 2016-17.

In 2017-18, key components like mobile microphone and receiver, USB Cable, key pads will attract duty benefits.

Components like camera module, mobile antenna etc will be given incentives or duty benefit in 2018-19 if procured locally by handset makers.

Mobile phone makers will get benefit of tax or incentives on the touch panels, mobile screen, vibrator motor or ringer from 2019-20 onwards under the program.

The phased manufacturing programme was proposed by a joint panel of the industry and the government - Fast Track Task Force. The panel set up under the MeitY has set target of 500 million handset production by 2019 and export target of 120 million mobile phones by 2019-20, taking annual manufacturing output in the range of Rs 1.5-3 lakh crore.

In 2016-17, total value of mobile phone to be produced in India is likely to reach Rs 90,000 crore from Rs 54,000 crore in 2015-16.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: Nakshab Khan
Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp
Most Active
Company Price Change %Gain
SBI 321.90 5.20
Bharti Airtel 393.05 8.43
ICICI Bank 499.85 0.24
Reliance 1,470.85 0.55
Yes Bank 68.70 -0.07
Company Price Change %Gain
Cipla 463.10 2.57
SBI 322.00 5.19
Bharti Airtel 393.20 8.42
Eris Life 410.15 -0.19
Yes Bank 68.70 -0.07
Top Gainers
Company Price Change %Gain
Bharti Infratel 227.15 8.87
Bharti Airtel 393.05 8.43
SBI 321.90 5.20
Grasim 755.15 2.89
Cipla 463.25 2.63
Company Price Change %Gain
Bharti Airtel 393.20 8.42
SBI 322.00 5.19
Kotak Mahindra 1,623.00 1.60
Sun Pharma 414.90 1.18
Tata Motors 168.60 0.96
Top Losers
Company Price Change %Gain
IOC 131.70 -3.76
Hero Motocorp 2,543.20 -1.87
BPCL 506.55 -1.57
Maruti Suzuki 7,147.20 -1.38
Vedanta 142.10 -1.32
Company Price Change %Gain
Hero Motocorp 2,542.85 -1.85
Maruti Suzuki 7,147.00 -1.38
ITC 250.65 -1.30
Vedanta 142.10 -1.29
NTPC 117.20 -1.14

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results