Customs duty rates being calibrated to strengthen domestic manufacturing of wearables: FM

Finance Minister Nirmala Sitharaman on Tuesday said customs duty rates are being calibrated to provide a graded rate structure to facilitate domestic manufacturing of products like wearables and electronic smart meters.

Presenting the Union Budget 2022-23, Sitharaman said duty concessions are also being given on certain items to enable domestic manufacturing of high-growth electronic goods.

The finance minister noted that electronic manufacturing has been growing rapidly.

Also read: Key takeaways from FM Nirmala Sitharaman's Union Budget speech

"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," she added.

She said duty concessions are also being given to parts of transformer of mobile phone chargers, camera lens of mobile camera module and certain other items.

"This will enable domestic manufacturing of high-growth electronic items," she added.

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