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Customs duty hike on mobile phones to hurt consumers

In a bid to further help domestic smartphone manufacturers, Finance Minister Arun Jaitley on Thursday announced a hike in customs duty on mobile phones to 20 per cent from 15 per cent

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In a bid to further help domestic smartphone manufacturers, Finance Minister Arun Jaitley on Thursday announced a hike in customs duty on mobile phones to 20 per cent from 15 per cent -- a move that will force foreign players to pass on the burden to consumers. "Customs duty on import of mobile phone parts will be increased to 20 per cent from the existing 15 per cent. This will boost jobs in the smartphone sector in India," Jaitley said during his Union Budget speech.

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