FEBRUARY 20249TOP STORIESGOVERNMENT SLASHES IMPORT DUTIES FOR SMARTPHONE COMPONENTS TO 10 PERCENTPOLARIS SECURES CONTRACT TO INSTALL 5 MILLION SMART METERS IN UPOn January 30, the government reduced import duties on components used in the manufacture of mobile phones from 15 percent to 10 percent.Import duty-free parts include polyurethane foam products like battery covers, front covers, the center covers, main lens, back cover, antenna/gsm antenna of all technologies, polyurethane case/sealing joint and other sealing joints. Cases, seals/cases of PE, PP, EPS, PC and other individual polymers or combinations of polymers, SIM connectors, screws, other plastic mechanical elements and other metal mechanical elements.Recently, the Global Trade Research Initiative (GTRI) in its report, urged the government to not cut import duties on electronic components used in making smartphones in the forthcoming Budget as the current tariff structure has already proven successful and changing them could harm local manufacturing. The GTRI had said that maintaining the current rates would help balance industry growth and long-term development in India's growing smartphone market.The suggestion is in contrast to the demand of industry body India Cellular and Electronics Association (ICEA) that import duty cuts on mobile phone components can increase domestic production of handsets by 28 percent to $82 billion boost exports, and support indigenous manufacturing.The think tank said that Indian manufacturers "must pay" duties on smartphones sold within India, but exports should be exempted from such duties. Polaris Smart Metering on Jan 29 said it has secured two smart meter projects totaling Rs 5,200 crore in Uttar Pradesh. "Madhyanchal Vidyut Vitran Nigam Limited (MVVNL) has awarded the contracts for installing over 5.1 million smart meters in the important clusters of Lucknow and Ayodhya/Devipatan, which the company plans to install over the next 27 months," Polaris Smart Metering said in a statement.As per the agreement, Polaris Smart Metering will supply, commission, install and maintain smart meters for consumers and system metering across the consumer base in these clusters for the next 10 years, it said.These smart meters will be equipped with state-of-the-art technology, enabling prepaid billing, real-time energy monitoring, accurate metering, and improved grid management capabilities. This contract comes under a Design-Build-Finance-Operate-Own-Transfer (DBFOOT) agreement.Meanwhile, Polaris has also received Letter of Awards (LOAs) from West Bengal and Manipur worth over Rs 2,400 crore to install more than 2.3 million smart meters across these two states.The primary objective of this project is to reduce losses for discoms (power distribution companies) and to empower consumers by introducing smart prepaid meters, enabling them to have better control over their energy consumption, the company said.Yashraj Khaitan, CEO of Polaris Smart Metering, said: "Our smart metering solutions will empower consumers with actionable insights into their energy consumption while simultaneously delivering substantial benefits to the state governments in terms of improved grid efficiency, reduced pilferage, and improved environmental sustainability."
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