- Realme and One Plus also favour the decision to restrict imports of colours TVs
- The restrictions ordered through the import licensing regime would stop the unrestricted inflow of finished goods/CBU’s
- Over 85% of Mi TVs sold in India are manufactured in India reportedly
Around 35% of TV sets sold in India are imported
According to a report published by the Economic Times, TV manufacturers like China’s Xiaomi shared that the Indian government’s decision to impose restriction on the import of colour televisions would encourage and give a boost to local manufacturing.
Recently, a Xiaomi India spokesperson shared that “Currently, over 85% of our Mi TVs sold in India are manufactured in India. We believe that this decision will encourage and give a boost to local manufacturing.”
Job loss in India
Indian Cellular and Electronics Association which is represented in favour of Xiaomi, Realme and One Plus, welcomed the decision to restrict imports of colours TVs. The ICEA foundation also mentioned that India has enough manufacturing capacity and the much-needed move would boost the local production. Pankaj Mohindroo, Chairman of ICEA revealed that India was losing jobs as imports continued unabated.
The body also shared “The industry was surprised by the government’s decision to restrict the import of colour TVs clocking up to Rs 600-700 crore per month, a substantial portion of which was coming from the zero-duty FTA Asian countries.” The restrictions ordered through the import licensing regime would stop the unrestricted inflow of finished goods/CBU’s. It has also been revealed that imports of CBU’s in 2019-20 crossed Rs 5,000 crore.
Open cells constitute nearly 70% of bill of material cost for TVs. At present, around 35% of TV sets sold in India are imported.
