AIRLINK 73.00 Decreased By ▼ -2.16 (-2.87%)
BOP 5.35 Decreased By ▼ -0.10 (-1.83%)
CNERGY 4.31 Decreased By ▼ -0.08 (-1.82%)
DFML 28.55 Increased By ▲ 0.91 (3.29%)
DGKC 74.29 Increased By ▲ 2.29 (3.18%)
FCCL 20.35 Increased By ▲ 0.06 (0.3%)
FFBL 30.90 Decreased By ▼ -0.15 (-0.48%)
FFL 10.06 Increased By ▲ 0.09 (0.9%)
GGL 10.39 Increased By ▲ 0.12 (1.17%)
HBL 115.97 Increased By ▲ 0.97 (0.84%)
HUBC 132.20 Increased By ▲ 0.75 (0.57%)
HUMNL 6.68 Decreased By ▼ -0.19 (-2.77%)
KEL 4.03 Decreased By ▼ -0.17 (-4.05%)
KOSM 4.60 Decreased By ▼ -0.17 (-3.56%)
MLCF 38.54 Increased By ▲ 1.46 (3.94%)
OGDC 133.85 Decreased By ▼ -1.60 (-1.18%)
PAEL 23.83 Increased By ▲ 0.43 (1.84%)
PIAA 27.13 Decreased By ▼ -0.18 (-0.66%)
PIBTL 6.76 Increased By ▲ 0.16 (2.42%)
PPL 112.80 Decreased By ▼ -0.36 (-0.32%)
PRL 28.16 Decreased By ▼ -0.59 (-2.05%)
PTC 14.89 Decreased By ▼ -0.61 (-3.94%)
SEARL 56.42 Decreased By ▼ -0.91 (-1.59%)
SNGP 65.80 Decreased By ▼ -1.19 (-1.78%)
SSGC 11.01 Decreased By ▼ -0.16 (-1.43%)
TELE 9.02 Decreased By ▼ -0.12 (-1.31%)
TPLP 11.90 Decreased By ▼ -0.15 (-1.24%)
TRG 69.10 Decreased By ▼ -1.29 (-1.83%)
UNITY 23.71 Increased By ▲ 0.06 (0.25%)
WTL 1.33 Decreased By ▼ -0.01 (-0.75%)
BR100 7,434 Decreased By -20.9 (-0.28%)
BR30 24,206 Decreased By -44.4 (-0.18%)
KSE100 71,359 Decreased By -74.1 (-0.1%)
KSE30 23,567 Increased By 0.5 (0%)

NEW DELHI: Indian authorities Wednesday accused Chinese smartphone maker Oppo of evading customs duty worth $551 million, the latest tech company from China to face scrutiny by local investigative agencies.

India’s Directorate Of Revenue Intelligence (DRI) found evidence that Oppo wrongfully used duty exemptions for items imported for use in mobile phone production, a government statement said.

DRI officials searched Oppo India offices and key managers’ residences, it said, and recovered “evidence indicating wilful mis-declaration in the description of certain items imported by Oppo India for use in the manufacture of mobile phones”.

China’s Vivo asks court to lift Indian bank account freeze

Relations between New Delhi and Beijing have been at a low ebb since a deadly Himalayan military stand-off between the countries in 2020.

The searches make Oppo the latest Chinese tech company to come under New Delhi’s spotlight, after similar raids against Vivo, Xiaomi and Huawei earlier this year.

India’s home ministry has also banned hundreds of mobile applications of Chinese origin, including the hugely popular social media platform TikTok.

The government justified the bans as a necessary safeguard against threats to India’s sovereignty.

Anti-China sentiment has grown in India since the fatal 2020 troop clash, sparking calls for consumer boycotts of Chinese goods.

India blocks 119 accounts linked to China’s Vivo in money laundering probe

China continues to be a key economic partner for India, with more than $125 billion in bilateral trade last year.

India is home to the second-highest number of smartphone users in the world, after China.

Its smartphone market grew 27 percent year-on-year in 2021, according to tech research firm Counterpoint, with annual sales exceeding 169 million units.

Oppo India, which also manages other brands including OnePlus and Realme, is one of the largest smartphone vendors in the country.

Indian financial crime agency raids Chinese-owned Vivo

Oppo, which is owned by China’s BBK Electronics, said it has “a different view on the charges mentioned”.

“We believe it’s an industry-wide issue (that) many corporates are working on … we are going to reply (to) the notice, presenting our side,” the company said in a statement.

Comments

Comments are closed.