India prepares for Trump trade disruption by cutting import taxes for Apple & others

Certain iPhone components including iPhone circuit boards will no longer face import taxes in India as the country positions itself to weather changes in global trade.Mumbai, IndiaIn 2024, the Indian government reduced its import taxes on chargers, printed circuit board assembly (PCBA) and smartphones themselves, from 20% to 15%. That 5% cut was estimated to mean Apple would earn between $35 million and $50 million more annually.According to Reuters, though, India has now entirely dropped import taxes on certain components and accessories, although not on smartphones. India's Finance Minister Nirmala Sitharaman announced the removal of the tax during her annual budget speech and the government has prepared a list of affected components. Continue Reading on AppleInsider | Discuss on our Forums