Friday, October 2, 2020
Smaller brands may be forced to import fully built mobile devices, after latest BCD levy
Smaller smartphone brands may resort to importing completely built devices instead of assembling in India, as the aggregate duty on components has become almost equal to that on a complete unit, a development which may hit the government's plans of expanding local manufacturing. https://ift.tt/3lahw2I https://ift.tt/eA8V8J
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Sources: SoftBank invites more banks to join its $40B loan backing its OpenAI investment, requiring them to commit ~$5B each; SoftBank has already invested $30B (Bloomberg)
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