Millennium Post

Telecom product imports rose to Rs 69,516 cr in FY14

Telecom product imports rose to Rs 69,516 cr in FY14
In the previous 2012-13 fiscal, imports of telecom products were Rs 57,208.78 crore and exports were at Rs 21,716.76 crore, Communications and IT Minister Ravi Shankar Prasad informed the Lok Sabha in a written reply.

In 2011-12, the import figure stood at Rs 55,466.54 crore while exports were at Rs 20,775.57 crore.
In a separate reply, Prasad said the production of mobile handsets in the country is projected to be down by more than half even as import of handsets is expected to rise by over 18 per cent in 2014.

Giving details about the production and import of mobile phones in India, Prasad said that 130 million units were produced in 2013 and it is projected to be 60 million units in 2014 whereas the import figures stood at 185 million in 2013 and it is estimated to be 220 million in 2014.

The value of mobile phones produced in the country is expected to be down to Rs 18,900 crore in 2014 as compared to Rs 26,650 crore in 2013.

However, the value of imported mobile phones is estimated to rise to Rs 58,550 crore in 2014 as compared to Rs 42,200 crore in 2013.

The minister said smartphone market in India is likely to be around 200 million units by 2020 with an average annual rate of growth around 26 per cent.

Sharing details, Prasad said smartphone market in the country in 2012 was 20 million units, which grew to 32 million units in 2013 and is estimated to be 70 million units in 2014. The minister said government has taken various initiatives which will have a direct bearing on the promotion of mobile manufacturing in the country.

The government has imposed education cess on imported electronic products to provide parity between domestically produced goods and imported goods.

Government has approved setting up of two semiconductor wafer fabrication manufacturing facilities which would create necessary ecosystem for design and manufacturing of telecom equipments.

Under the electronics hardware technology park scheme, approved units are allowed duty free import of goods required by them for carrying on export activities, CST reimbursement and excise duty exemption on procurement of indigenously available goods, as per the foreign trade policy.
PTI

PTI

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