India's budget 5G smartphones under ₹10,000 amid No‑Cost EMI controversy

Several Indian retailers are promoting sub‑₹10,000 5G smartphones ahead of the Independence Day sales period. Bank offers and instant discounts bring models such as the Moto G34 5G, Poco M6 5G, Redmi 13C 5G and Lava Blaze 2 5G to prices between ₹7,000 and ₹9,999, with features like high‑refresh‑rate displays and large batteries.

The All India Mobile Retailers Association (AI MRA) has urged manufacturers—including Samsung, Apple, Xiaomi, Vivo, Oppo and Realme—to discontinue their No‑Cost EMI schemes. AI MRA claims the schemes add 17‑19 % to a phone’s cost, which is later passed on to consumers. The association recommends replacing No‑Cost EMI with standard consumer loans that carry lower interest rates, arguing that this could lower upfront prices while still providing financing options.

If the No‑Cost EMI plans are removed, manufacturers say the interest burden would shift to borrowers who take loans, but customers paying cash could see reduced prices. The debate highlights the tension between aggressive financing promotions and transparent pricing in India’s fast‑growing smartphone market.