In a significant move for the electronics manufacturing industry, Finance Minister Nirmala Sitharaman has announced a reduction in the basic customs duty on mobile phones, chargers, and some components as part of the Union Budget 2024. This has been a long-standing demand from the industry.
Previously, imported smartphones sold in India were subject to an 18% GST and a 22% customs duty, which included a 20% basic duty and a 2% surcharge. Although the 10% surcharge on the basic customs duty remains, the new customs duty has been lowered to a total of 16.5% (15% basic and 1.5% surcharge). For phones manufactured in India, only the 18% GST is applied.
Following this announcement, Apple has promptly reduced the prices of its iPhones in India. While the price cut on base non-Pro models is minimal at Rs 300, the high-end Pro models have seen a more substantial reduction of up to Rs 6,000 (via TOI). Apple has already updated its website to reflect these new prices.
The iPhone 15 Pro and iPhone 15 Pro Max models have received the largest discounts, up to Rs 6,000. Meanwhile, the iPhone 15 and iPhone 15 Plus models have seen smaller reductions.
The iPhone SE, known for being one of the more affordable models, now costs Rs 47,600, down from Rs 49,900, a cut of Rs 2,300. Additionally, the iPhone 13 is now available for Rs 59,600, and the iPhone 14 is priced at Rs 69,600.
These price adjustments make Apple’s smartphones slightly more accessible to the Indian market, potentially boosting sales and encouraging more consumers to upgrade to newer models.
Also read: In a first, Apple to make iPhone 16 Pro models in India this year
New prices of popular Apple iPhones in India:
iPhone 15
Phone 15 Plus
iPhone 15 Pro
iPhone 15 Pro Max
iPhone 14
