Apple Could Be Hurt By India’s Import Tax Rate Hike
December 19, 2017
In a bid to build up the domestic industry, the Indian government increased the import tax Dec. 14 on dozens of electronic products like mobile phones and television sets.
The rise in tax from 10 percent to 15 percent for foreign smartphones is of particular significance considering the country’s $10 billion smartphone market.
The same increase was applied to video cameras, while television sets were double to 20 percent.