Electronics Industry Seeks Import Duty Cuts in Budget 2025
The Indian electronics industry has urged the government to consider significant reductions in import duties and enhanced incentives in the upcoming Union Budget 2025. The sector, a cornerstone of India’s manufacturing and export ambitions, seeks measures to lower costs and bolster its global competitiveness.
Key Demands from Industry Leaders
Industry stakeholders have outlined a series of requests aimed at fostering growth and reducing operational hurdles. Among the primary demands is the reduction of import duties on components and finished products. High duties, they argue, inflate production costs and hinder the sector’s ability to compete internationally.
Additionally, the industry has called for enhanced Production Linked Incentive (PLI) schemes. These incentives, leaders believe, could stimulate investment in domestic manufacturing facilities and promote the “Make in India” initiative.
Focus on Export Boost and Value Addition
The sector is also advocating for policies that drive exports. Electronics exports have shown steady growth, and the industry believes targeted incentives could significantly increase India’s share in global markets. By reducing dependency on imported components and promoting indigenous production, the industry hopes to create a more self-reliant ecosystem.
Value addition within the electronics supply chain is another area of focus. Industry leaders emphasize the need for infrastructure development, skill enhancement programs, and research and development incentives to support the creation of high-value products.
Government’s Potential Response
The government has been proactive in supporting the electronics industry through various schemes and policy measures. However, industry experts highlight that without duty rationalization and streamlined incentives, the sector may face challenges in maintaining its growth trajectory.
Budget 2025 is expected to play a pivotal role in addressing these concerns. If implemented, the proposed measures could accelerate India’s journey to becoming a global electronics hub while driving job creation and economic growth.
The industry remains optimistic about the government’s commitment to fostering a favorable environment for businesses and looks forward to policy announcements that align with its vision for a self-reliant and globally competitive electronics sector.
