Apple's Tim Cook is ready with a blueprint to sell cheap iPhones in India but there's a catch
The presentation was made by senior executives of the company, including Global Vice-President (
With sales tapering in the US and China, Apple is eyeing India -- the fastest growing smartphone market in the world -- and looking to set up a local manufacturing unit to cut costs.
It, however, does not manufacture devices on its own and rather does it through contract manufacturers.
Besides exemption from the Customs duty on imports of components and equipment for 15 years, Apple wants relaxation in the mandated 30 per cent local sourcing of components.
When contacted, Apple spokesperson told PTI: "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 here."
The spokesperson added: "We appreciate the constructive and open dialogue we have had with the government about further expanding our local operations."
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.
"They are seeking certain duty exemptions and other concessions. Respective departments will look at those demands," they added.
The official also said the company has indicated that it would gradually make India a major manufacturing hub for its products.
"The company setting 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 sources divulged.
The company executives yesterday called on Commerce and Industry Minister Nirmala Sitharaman.
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