Apple is reported to have finally succeeded in getting one of the tax concessions it had sought in return for assembling iPhones in India. The company had long been seeking a range of incentives in return for setting up an iPhone plant in the country.
Apple had originally wanted the concessions before beginning production, but decided to go ahead with or without them. Local production of the iPhone SE started earlier this month …
Reuters now reports that the government has given in to one key demand as the company seeks to expand local manufacturing.
The government has not agreed to the 15-year deal Apple wanted, but instead offered an open-ended approach.
Apple plans to gradually increase local manufacturing in four phases, at 3, 5, 7 and 10 years but has not yet formally accepted the deal offered by the Indian government, says the report.
“We have offered them tax exemptions on those components which could not be manufactured in India,” Sundararajan told Reuters, adding that local manufacturing component would have to be increased gradually.
We recently noted the importance of India to Apple’s future.
Image: technewstoday.com
