Apple is near a deal to manufacture its products in India, reports the WSJ. Apple VP Priya Balasubramaniam and other executives met with senior Indian government officials in New Delhi on Wednesday to discuss their proposals.
“It’s almost a done deal,” an official told the journal.
Apple wants tax and tariff exemptions which the Finance Ministry is willing to look into. “Many of the incentives sought by Apple are workable,” said the official.
Manufacturing devices such as the iPhone in India would make it easier for Apple to open its own stores in the country. India is home to 1.2 billion people and could be a significant source of growth for the company in the future. Currently, Apple has less than 5% share of the market in India.
Another official who works closely with Indian Prime Minister Narendra Modi said that Apple wants a 15-year tax holiday on imports of components and equipment. The official also said that the government intends to 'settle with Apple'.
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“It’s almost a done deal,” an official told the journal.
Apple wants tax and tariff exemptions which the Finance Ministry is willing to look into. “Many of the incentives sought by Apple are workable,” said the official.
Manufacturing devices such as the iPhone in India would make it easier for Apple to open its own stores in the country. India is home to 1.2 billion people and could be a significant source of growth for the company in the future. Currently, Apple has less than 5% share of the market in India.
Another official who works closely with Indian Prime Minister Narendra Modi said that Apple wants a 15-year tax holiday on imports of components and equipment. The official also said that the government intends to 'settle with Apple'.
Read More