India will ban the duty-free import of flat-screen televisions from August 26, the government said in a statement yesterday, adding to a package of measures designed to prop up the rupee by stemming the flow of foreign currency out of the country.
Passengers won't be able to import TVs into India from August 26
Under the new rules, passengers will have to pay a 35 percent duty and other charges, the officials said. The rupee slid further and ended Monday at 63.13 to the dollar, an all-time low for the Indian currency. Import of televisions had also proven to be a bug bear for the major manufacturers, some of whom have ended customer support for televisions imported into the country.
Sony, LG and Samsung have decided to limit their after-sales service for such imported models that are estimated to account for nearly 20 percent of all TV sets in India. Customers could be forced to pay extra for the after-sales service for such imported TVs. Manufacturers maintain that imported sets are disturbing the market equilibrium, sales plans and the legitimate channel of sales and hamper sales of the India divisions, which end up looking underperforming.
With inputs from Reuters
07 Dec, 2013, 10:53 AM
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