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Mobile phones and TV sets manufactured in India would become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in Basic Customs Duty (BCD) on import of their components but smokers would have to pay more as the government has increased taxes. Fully imported cars, including electric vehicles, and those assembled in India with imported parts will also become costlier with the finance minister increasing customs duty. Following is a list of imported items that will become costlier: *Cigarettes *Kitchen chimney *Imported bicycles and toys *Fully imported cars and Electric Vehicles *Imitation jewellery *Compounded rubber * Silver dores *Naphtha However, certain goods will become cheaper as the government has slashed the customs duty and these are: * Domestically-manufactured TV sets * Shrimp feed * Fish lipid oil used in manufacturing aquatic feed * Seeds for lab-grown diamonds * Capital good *Machinery for manufacturing lithium ion cell to be used in electri
Electronic goods export is likely to grow by 36.8 per cent to cross Rs 1.6 lakh crore in the current fiscal, with mobile phone export accounting for nearly half of the total pie, industry body ICEA said on Tuesday. The electronic goods export in 2021-22 was Rs 1,16,937 crore, according to India Cellular and Electronics Association (ICEA). "In financial year (FY) 2021-22, India exported Rs 1,16,937 crore worth of electronic goods and is estimated to export more than Rs 1,60,000 crore in FY 2022-23. The mobile phone exports in FY 2021-22 were Rs 45,000 crore, and is estimated to reach more than Rs 75,000 crore in FY 2022-23," ICEA said in a note. According to the industry body, the total exports of electronic goods from India from April to December 2022 grew to Rs 1,33,313 crore against Rs 81,780 crore in 2021. The growth in electronic goods exports is primarily led by mobile phone exports, which are estimated to have increased over Rs 60,000 crore in April-December 2022 from Rs 27,2