Mobile phone industry will 'crumble' due to increased GST: Xiaomi's Manu Jain

New Delhi:  The smartphone industry in India is already starting to oppose the government’s decision to increase the goods and service tax (GST) on mobile phones and some components. “GST increase for phones from 12% to 18% will crumble the industry," tweeted Manu Jain, Managing Director, Xiaomi India. Jain also noted that the smartphone industry is “already struggling with profitability" bec…