Apple will reportedly ask the government for tax exemptions as well as other incentives during the meeting for iPhone manufacturing in India
A team from Apple will be meeting senior government officials on January 25 to discuss the possibility of setting up an iPhone manufacturing unit in the country. According to a report by PTI, officials from the departments of commerce, industrial policy and promotion (DIPP), revenue, environment and forest, electronics and information technology (DeITY) will be a part of the discussions. Apple has reportedly asked the government for several tax exemptions as well as other incentives such as long-term duty exemptions. However, government sources have said that the technology major should set up its manufacturing unit in India without seeking any additional support. The report notes that other smartphones manufacturers, which are making phones in India have not approached the government for any additional incentives.
Apple has been in talks with the Indian government for almost the whole of 2016, and Apple CEO, Tim Cook also paid the country multiple visits last year. Late last month, it was reported that Apple is already setting up a manufacturing facility in Peenya, Bengaluru and may start assembling iPhones from this year.
Besides setting up a manufacturing facility in India, Apple also aims to bring its retail stores to the country. FDI norms demand foreign investors to source components locally in order to set up their store. However, FDI norms were relaxed last year and now offer a three year exemption from the local sourcing rules for foreign players in single-brand retail.
Follow Us
Shrey Pacheco
Writer, gamer, and hater of public transport. View Full Profile
