Current Affairs 10 July 2026

In short

  • India scraps import duties on key mobile phone components to boost manufacturing
  • Reuters poll suggests India’s June retail inflation likely rose above RBI’s 4% target

…and 10 more stories on ENVIRONMENT, SCIENCE_TECH, GOVERNANCE, DEFENCE.

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ECONOMY

India scraps import duties on key mobile phone components to boost manufacturing

India has removed existing import duties of 7.5% and 5% on certain components used in the manufacture of mobile phones and other electronic devices.[3] The decision is aimed at reducing input costs for manufacturers and strengthening India’s position as a global electronics assembly hub.[3] Companies such as Apple and Xiaomi are expected to benefit directly from the lower tariff burden on their supply chains.[3] The move aligns with broader “Make in India” and production-linked incentive (PLI) objectives by making domestic assembly more cost‑competitive.[3] It also comes amid global supply-chain diversification away from China, where India is trying to attract more high-value electronics manufacturing.[3] The policy change may have short‑term revenue implications but is expected to be offset by higher production volumes and employment over time.[3] This step is part of a series of calibrated tariff adjustments undertaken by the government in recent years in the electronics sector.[3]

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India recently scrapped import duties on some parts used to make mobile phones that were earlier taxed at which rates?

ECONOMY

Reuters poll suggests India’s June retail inflation likely rose above RBI’s 4% target

A Reuters poll of economists indicates that India’s consumer inflation in June 2026 likely breached the Reserve Bank of India’s medium‑term target of 4% for the first time in 16 months.[3] The anticipated rise is attributed to higher food and fuel prices, combined with the impact of a weak monsoon and global cost pressures linked to the ongoing U.S.-Iran conflict.[3] The poll’s median forecast suggests headline CPI inflation edged up, though still within the RBI’s tolerance band of 2–6%.[3] Elevated food inflation is associated with weather‑related disruptions and possible delays in sowing due to rainfall patterns.[3] Fuel prices have also remained firm, influenced by geopolitical tensions and supply uncertainties.[3] The data will be closely watched by policymakers and markets for its implications on interest rates and liquidity conditions.[3] If sustained, this uptick could complicate RBI’s stance between supporting growth and containing inflation.[3]

Try the question

The Reserve Bank of India’s medium‑term target for CPI inflation is set at which level?

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