Current Affairs 6 August 2026

In short

  • India scraps import duties on key smartphone and electronics parts
  • India consumer inflation likely breaches RBI’s 4% target in June

…and 14 more stories on ENVIRONMENT, DIPLOMACY, DEFENCE, POLITY.

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ECONOMY

India scraps import duties on key smartphone and electronics parts

The Indian government has removed import duties of 7.5% and 5% on certain parts used in the manufacturing of mobile phones and other electronic devices.[2] This policy change is aimed at boosting domestic electronics production and supporting major smartphone manufacturers operating in India, including companies like Apple and Xiaomi.[2] The move is expected to lower input costs for manufacturers and potentially make locally assembled devices more competitive in price. It aligns with the broader “Make in India” and production-linked incentive (PLI) strategies to turn India into a global manufacturing hub. The duty cuts may also encourage further foreign direct investment in electronics and strengthen India’s position in global supply chains.[2] Industry observers will watch how these changes affect import volumes, assembly operations, and consumer prices over the coming quarters. The measure comes amid global supply chain shifts and India’s effort to attract companies diversifying away from other Asian manufacturing bases.[2]

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The recent removal of import duties by India applies primarily to which category of goods?

ECONOMY

India consumer inflation likely breaches RBI’s 4% target in June

A Reuters poll suggests that India’s consumer inflation in June likely exceeded the Reserve Bank of India’s medium-term target of 4% for the first time in 16 months.[2] The anticipated uptick is attributed to higher food and fuel prices, the impact of the U.S.-Iran war on global cost pressures, and a weak monsoon.[2] Inflation crossing the target range may influence RBI’s future monetary policy decisions, including interest rate settings. Persistent inflationary pressures could affect household consumption, borrowing costs, and investment. Analysts will closely watch the official CPI release to assess the extent of deviation from the target band. The development underscores the sensitivity of inflation to both domestic weather conditions and international geopolitical events. It also raises questions about the balance between supporting growth and containing price rises in the months ahead.[2]

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The RBI's medium-term target for consumer inflation in India is closest to

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