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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (957)	2/29/2000 5:11:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

Hello, Mr FM, we are the telcos. Thanks a ton! Team ET www.economictimes.com THE GOVERNMENT has reduced import duties on components used in the manufacture of telecom equipment by up to 10 per cent, thus making indigenous production lucrative. The fiscal bill has also reduced the import duty on cellular handsets to 5 per cent from 25 per cent. This will reduce the price of cellular handsets by about 14 per cent. The new duty structure is expected to benefit indigenous manufacturers such as Indian Telephone Industries (ITI), Himachal Futuristic Comm-unications (HFCL), Shyam Telecom and Siemens. The cellular operators will also benefit, as the reduction in the cost of handsets will expand their subscriber base. As per the new duty structure, there will not be any import duty on ICs and microprocessors. Earlier, there was a five per cent import duty on these components. Similarly, duties on the import of diodes, transistors and other semiconductor components have been reduced to 5 per cent from 15 per cent.......... "By reducing import duties on the components and not reducing the duties on the finished equipment, the finance minister has made indigenous manufacturing lucrative," said Mahendra Nahata, the chairman of the telecom committee of PHDCCI and group chairman of HFCL...... 216.34.146.179