Mobile phone maker Vivo has been suspended by Indian authorities for more than a week from exporting about 27,000 smartphones worth $15 million, media reported. Bloomberg reports that India-made Vivo smartphones have been seized at New Delhi airport by the country’s Department of Revenue and Information, a branch of the Ministry of Finance. knowledgeable person.
Realme, Xiaomi and other Chinese smartphone makers in a country where a nationalist government led by Prime Minister Narendra Modi has urged them to increase exports and build local supply chains have been forced to halt mobile phone maker shipments at airports. It can make you feel uneasy. This could also affect India’s ambitious goal of exporting $120 billion worth of electronic goods by the end of March 2026, the Bloomberg report added.
Industry lobby groups have criticized the authorities’ actions, according to reports. India Cellular and Electronics Association Chairman Pankaj Mohindroo also submitted a letter to the ministry recently, Mohindroo said such actions “diffusion of incentives” for companies to manufacture and export electronic devices from India. It is said that
If you recall, in early August, Vivo’s India unit was accused of avoiding more than $280 million in tariffs by the Revenue and Intelligence Agency, weeks after the Office of Enforcement (ED) raided the smartphone maker’s offices. It was done.
According to the Treasury Department, the Revenue and Information Service recovered “incriminating evidence pointing to intentional misdeclaration in the description of certain goods” imported by the Indian arm of the smartphone maker while conducting an investigation at the factory. At a press conference, the ministry added:
Meanwhile, the ED had previously told the Delhi High Court through affidavits that Vivo India indulged in money laundering to destabilize the financial system and challenge the country’s integrity and sovereignty.