Apple Inc indicated on Wednesday that it is ready with a blueprint to begin manufacturing iPhones in India. The tech giant told the government that it wants fiscal concessions, including customs duty waiver on import of components.
Apple executives made a detailed presentation on its roadmap for the setting up of a manufacturing unit in India to an inter-ministerial group headed by Department of Industrial Policy and Promotion Secretary Ramesh Abhishek, sources privy to the development said.
The presentation was made by senior executives of the company, including Global Vice-President (iPhone operations) Priya Balasubramanian.
With sales tapering in the US and China, Apple is eyeing India – the fastest growing smartphone market in the world – and is looking to set up a local manufacturing unit to cut costs.
Apple, does not manufacture devices on its own and rather does it through contract manufacturers like Foxconn
Besides exemption from the customs duty on imports of components and equipment for 15 years, Apple wants relaxation in the mandated 30 percent local sourcing of components.
We have been working hard to develop our operations in India and are proud to deliver the best products and services in the world to our customers hereApple spokesperson
On the duty and tax-related concessions being sought by the company, the sources said most of them are within the policy domain and decisions will be taken by the respective departments.
The official also said the company has indicated that it plans to make India a major manufacturing hub for its products.
The company’s plans to set up its manufacturing unit in India is going to be a reality. They have full-fledged plans There is no policy impediment. They would also bring their supply chains
The company sells its products through Apple-owned retail stores in countries like China, Germany, the US, the UK and France, among others.
It has no wholly-owned store in India and sells its products through distributors such as Redington and Ingram Micro.
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