The gadget giant Apple to discuss demands to set up manufacturing unit in India
After recent reports and a high-profile meeting in India last year, U.S. tech giant Apple is all set to ‘Make in India’ in sync with the government’s plans to invite international companies to set up their bases in the country. Now, with Apple’s plans confirmed, a senior level meeting has been scheduled to be held on January 25, where a team from the iPhone maker will meet government officials.
The agenda of the meeting is for Apple to lay forward and discuss the feasibility of its plans of setting up a manufacturing unit in India. According to reports, Apple officials will meet officials from the IT and Finance ministries along with officials from departments of commerce, industrial policy and promotion (DIPP), revenue, environment and forest, electronics and information technology (DeITY).
The tech giant is said to have asked for tax and other incentives, including long-term duty exemptions, to enter the manufacturing sector in India.
Government sources told the local media that Apple might be expected to set up the proposed manufacturing unit in the country without seeking any additional support.
The statement is further reiterated in the fact that India currently houses 42 companies that are manufacturing mobile phones in the country and that no firm should approach the government seeking additional incentives.
To boost electronic manufacturing in the country, India currently provides support through the benefits that are part of the Modified Special Incentive Package Scheme (MSIPS).
As per the scheme, companies are offered financial incentives to offset disability and attract investments in the electronics hardware segment.
Among other benefits, companies are also given subsidies for investments in special economic zones.
Meanwhile, Apple, that currently manufactures all its products across six countries, including Japan, U.S. and Korea, had plans of setting up its manufacturing in India’s southern city, Bengaluru. Earlier last week, reports noted that Apple is collaborating with Taiwanese OEM maker, Wistron to set up the facility in India’s IT hub. Production at the facility was believed to begin from April this year. Recording over 50 percent growth in sales in merely 12 months and selling over 2.5 million iPhones in the country, India is one of the biggest growth markets for Apple’s iPhone.