Union Budget 2022 | Rationalisation of Customs duty rates to boost domestic electronic manufacturing: Finance Minister

Electronic manufacturing has been growing rapidly, Nirmala Sitharaman points out

Union Finance Minister Nirmala Sitharaman on Tuesday announced the rationalisation of the Customs duty rates for certain components to facilitate domestic manufacturing of high-growth electronic goods, wearable devices, and electronic smart meters.

“Electronic manufacturing has been growing rapidly. Customs duty rates are being calibrated to provide a graded rate structure to facilitate domestic manufacturing of wearable devices, hearable devices and electronic smart meters,” .