Apple has started negotiations and the government can consider Apple’s request to set up a manufacturing plant in the country.
Commerce and Industry Minister, Suresh Prabhu informed that early January 2019, he will meet with the top leaders of Apple in Davos to discuss their plans to set up a manufacturing plant in India. He said to PTI that talks are already on with the company and the government can consider Apple’s request to set up a manufacturing plant in the country.
Where does Apple stand currently
Though the offer came two-three years back, the minister feels that the situation has changed for them as well as for the Indian government and so it is a good time to meet and discuss and finalise the much awaited deal. He further informed that the tax and other concessions demanded by them can be negotiated and worked upon for time is ripe for Apple to step into the Indian market.
It has been seeking duty-free for 15 years for manufacturing and repairing units, components, capital equipment and consumables for smartphone manufacturing and service/repair.
The company also hopes to relax 30 per cent of local parts procurement requirements while reducing tariffs on fully disassembled and semi-disassembled equipment assembled in the country.