Security & Surveillance solutions provider Videocon Wallcam has welcomed the Government’s decision of imposing additional import duty on electronic items.
Among the list of items also falls the Video Surveillance product category, including CCTV cameras and Video Recorders (DVRs and NVRs) where the custom duty has been increased by 5% taking it up from current 10% to 15%.
As per the brand, the new regulation will not only boost the ‘Make in India’ initiative and go a long way in promoting domestic manufacturing but also discourage the ‘traders’ involved in importing and selling unbranded, poor quality/inferior CCTV related products with no technological backend and support, where ultimately the consumer suffers. The new regulation will also be instrumental in encouraging many foreign Video surveillance companies present in the country to manufacture products here rather than importing them.
Videocon WallCam entered the fast growing Security and Surveillance market in July this year and has been in news for taking many industry first initiatives. The brand is all set to take the production of Video Surveillance related products including CCTV cameras, DVRs/NVRs, Video Door Phones etc to a large scale. The brand which has a vast manufacturing and capacity and capability is also geared up to undertake production of video surveillance related products for other foreign brands in India.
Commenting on the announcement, Arvind Bali, CEO, Videocon Telecom and Videocon WallCam said, “We welcome the Government’s new regulation on Import duty. We feel that the new policy will promote the Government’s initiative of ‘Make in India’ and will go a long way in supporting brand’s like ours engaged in manufacturing of products in India and giving us edge over others.
We will continue to pass on the benefit of ‘Make in India’ to our consumers ensuring affordability and make security and surveillance a way of life. Videocon has a vast capability and capacity in manufacturing. We are also in discussions with other foreign brands to take up their production of Video Surveillance related products in India. Mr. Bali Added