LG recently announced that it will continue to assemble its smartphones in India despite the recent import duty hike on components shipped from overseas. However, this is also causing the company to expect a rise in prices for its smartphones in the region.
According to Advait Vaidya, Mobile Communications Business Head at LG India, “We are totally committed to MAKE IN INDIA vision & will continue to manufacture in India. In the long term, this situation will also create possibilities of local production by vendors including display & other components.” In other words, the move from the Indian government is aimed to boost the local production of such components.
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For those unaware, from 1st October 2020, the central government has levied a 10 percent basic customs duty on imports of various