Apple To Meet Indian Ministries On January 25

Apple To Meet Indian Ministries On January 25

Apple, the US-based mobile makers as a team, would meet the group of senior ministries of the country including IT and finance on January 25th. The meeting arranged would discuss the demands of Apple for setting up a manufacturing unit in India.

Officials from various departments that includes ministers of commerce, electronics and information technology (DeITY), revenue, environment and forest, industrial policy and promotion (DIPP) would take part in the meeting.

In the communication to the Government of India to enter the manufacturing sector in India, the major of Cupertino-based technology has asked for several taxes including long-term duty exemptions and other incentives.

However, the sources said without seeking additional support, the technology major should set up the manufacturing unit in India.Apple

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With more than 42 companies making mobile phones in India, that includes the Chinese firm Huawei and Xiaomi, and so far no company have approached for any additional incentives from the government.

As an aid to boost the electronic manufacturing in India, the government has extended its support under Modified Special Incentive Package Scheme (MSIPS).

The MSIPS offers the financial incentives to offset disability and attracts the electronics hardware segment investments.

The scheme also provides the subsidy for the investments made in special economic zones with added advantage.

Currently, the Apple products were manufactured in six countries, including the US, Japan and Korea.

Earlier in May, the finance ministry had rejected the pre-condition to bring the FDI to set up a single-brand retail store in the country with relaxing the 30 per cent domestic sourcing norms that were sought by the Apple for manufacturing iPhone and iPad.

The company sought exemption on the ground in which the suppliers from the country could not make state-of-the-art and cutting-edge technology products.

The government of India had also turned down the firm’s proposal such that to import the refurbished mobile phones and sell them in the country.

The company sells all its Apple products through the Apple-owned retail stores in countries like China, Germany, France, the UK and the US. However, there has no wholly-owned store in India and Apple sells its products through the Redington and Ingram Micro distributors.

The Indian government has announced the incentives such that to promote the electronic manufacturing in the country and to reduce the import bill.

Author: WOA Admin

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