According to the sheet The Economic Times, India's TV imports from Vietnam have increased 25 times, worth up to 215 million USD only last year. That rapid growth has prompted the Indian TV industry to call for a change in the import tax structure, while stopping the flow of TV imports from Vietnam. In a letter to the Minister of Finance Nirmala Sitharaman, Minister of Trade and Industry Piyush Gidel, IT and Communications Minister Ravi Shankar Prasad, Indian Electronics and Mobile Association (ICEA) stated that The Indian government has lost more than 140 million USD.
"TV production in India is under great threat. The reason is that imports from Vietnam have grown rapidly and significantly.", ICEA President Pankaj Mohindroo wrote.
Samsung launched a new TV in India
The association conducted a three-month investigation with an inter-ministerial committee on imports from Vietnam, a country in which India has a free trade agreement, focusing on prices, quantities, value, rules, … Accordingly, they have "flagged" the import of Samsung-made TVs in Vietnam as indirect and direct causes, causing widespread unemployment to nearly 10,000 jobs. . In September 2018, local newspapers also reported that Samsung gradually withdrew TV production from India, switched to import from Vietnam, the group's global production base.
The Indian government has doubled customs duties on TV panels from 7.5% to 15%. While taxes on cell open cell 'components (OC) also hit the ceiling up to 10%, this is a very important component in TV panels, accounting for 65-70% of the value. In Vietnam, Samsung has a SEHC complex with a total investment of US $ 2 billion, specializing in TV and household appliances production.