3 months Free Trail

Get world class research developed by an in house team of professionals backed with strong institutional support. With reports that span across time horizons, styles and easily actionable strategies, you are never too far from executing a winning trade.

Key features and benefits of Registeration :
  • My Portfolio : Access 360° View not only of your Portfolio with Emkay, but all your Investment Portfolios
  • Emkay Research : Get Emkay's exclusive Research Reports & Trading Ideas.
  • My Watch list : Track your favorite stocks, Derivatives, Currencies, Commodities, Mutual funds on the go
  • Markets : Grab Stock Market Information at your fingertips
  • News & Announcements : Stay Updated 24x7 with news that matters.
  • Alerts : Get Alerts on Emkay Research, Trading Ideas, news on your portfolio holdings & watchlist

Generate password

Change password

Forgot Customer Code

Would you like to create a personalised login id for logging in to Emkay Website ?

Change Personalised Login ID

Power banks can be Rs 180 bn sector, create 80,000 jobs by 2025: ICEA

Share Source By

Dion Global

28 Dec 2018

Power bank segment can grow around nine-fold to become a Rs 180 billion industry by 2025 and create 80,000 jobs if right policies are implemented, the India Cellular and Electronics Association (ICEA) said Thursday.

The ICEA has proposed to bring power banks under phased manufacturing plan scheme, which if accepted, will lead to imposition on customs duty on imported power banks.

"Given the right policy prescription, by 2025 the Power Banks can be built into Rs 180 billion industry, generate 80,000 jobs in India and exports can touch Rs 58 billion," ICEA Chairman Pankaj Mohindroo told PTI.

According to the mobile phone and component industry body, India consumes about 33 million power banks a year worth about Rs 20 billion.

"Currently, most of the power banks are imported and can be easily substituted by power banks made in India," Mohindroo said.

He appreciated government's recent clarification to bring power banks under 18 per cent Goods and Services Tax category which the authorities were earlier insisting to classify them under 28 per cent slab.

"It has been ICEA's technical interpretation that Lithium-ion power bank merits classification under Lithium-ion accumulator and GST at the rate of 18 per cent is applicable, although it was attempted to misclassify Power banks under 28 per cent GST rate. At least now the path for the future is clear and this will allow the industry to function smoothly," Mohindroo said.