Finance ministry’s revenue intelligence unit halted the export of 27,000 Vivo from India

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The finance ministry’s revenue intelligence unit has halted the export of 27,000 Vivo phones worth $15 million from India.

According to Bloomberg, the finance ministry has accused the Chinese smartphone maker of misrepresenting the device models and their values, and has thus barred the company from shipping devices from India to neighbouring markets. The India Cellular and Electronics Association (ICEA) has characterised the government agency’s actions as “unilateral and preposterous.” The current conflict between India and Vivo comes after the government increased its scrutiny of 46+ Chinese companies.

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Finance ministry’s revenue intelligence unit halted the export of 27,000 Vivo from India

The finance ministry’s revenue intelligence unit has halted the export of 27,000 Vivo phones worth $15 million from India.

According to Bloomberg, the finance ministry has accused the Chinese smartphone maker of misrepresenting the device models and their values, and has thus barred the company from shipping devices from India to neighbouring markets. The India Cellular and Electronics Association (ICEA) has characterised the government agency’s actions as “unilateral and preposterous.” The current conflict between India and Vivo comes after the government increased its scrutiny of 46+ Chinese companies.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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