New Delhi, Dec 19 (PTI) Videocon Wallcam today said it isin discussion with foreign brands to manufacture their videosurveillance product at its facility in India followingincrease in import duty on electronic products.
"Videocon has a vast capability and capacity inmanufacturing. We are in discussions with other foreign brandsto take up their production of Video Surveillance relatedproducts in India," Videocon Telecom & Videocon WallCam CEOArvind Bali said in a statement.
The company appreciated the government's move to increasebasic custom duty saying the new regulation will not onlyboost 'Make in India' initiative but also discourage the'traders' involved in importing and selling unbranded, poorquality and inferior CCTV related products with notechnological back-end.
Among the list of items also falls the Video Surveillanceproduct category, including CCTV cameras and Video Recorders(DVRs and NVRs), where the custom duty has been increased by 5per cent, taking it up from current 10 to 15 per cent, thestatement said.
"The new policy will promote the government's initiativeof 'Make in India' and will go a long way in supporting brandslike ours engaged in manufacturing of products in India andgiving us an edge over others. We will continue to pass on thebenefit of 'Make in India' to our consumers ensuringaffordability," Bali said. PTI PRSBAL.
This is unedited, unformatted feed from the Press Trust of India wire.