“Apple Inc. is nearing a deal to manufacture its products in India, according to a senior government official, as the company seeks to boost its sales in a market that is home to more than 1.2 billion people,” Rajesh Roy and Newley Purnell report for The Wall Street Journal. “”
“A team of executives led by Priya Balasubramaniam, an Apple vice president, met with senior Indian government officials in New Delhi on Wednesday to discuss the firm’s proposals, the official said,” Roy and Purnell report. “‘It’s almost a done deal,’ said the official, who has direct knowledge of the matter.”
“Apple’s main requests are related to tax and tariff exemptions, which the Finance Ministry ‘will look into,’ according to the official. ‘Many of the incentives sought by Apple are workable,’ the official said,” Roy and Purnell report. “Making goods such as iPhones locally may help the Cupertino, Calif., company to open its own stores in India, in turn building its brand in a country where it has less than a 5% share of a booming smartphone market… Separately, a top bureaucrat who works closely with Prime Minister Narendra Modi said the government’s intention was to ‘settle with Apple.’ The company is seeking a 15-year tax holiday on imports of components and equipment, the official said.”
Read more in the full article here.
MacDailyNews Take: This will be a major development for both Apple and India. Apple will be primed for much growth in India with their own network of retail stores and India will benefit greatly from having Apple manufacture products and operate retail/service locations in the country.
SEE ALSO:
Apple is ready to make iPhones in India, for a price – January 20, 2017
India to consider Apple request for tax breaks and policy exemptions with ‘open mind’ – January 18, 2017
Apple is horse-trading mightily with India – January 4, 2017
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Apple doesn’t want India’s government to muddle iPhone’s look – December 29, 2016
Apple is discussing manufacturing in India, government officials say – December 20, 2016
Apple iPhone grabs first place in India with 66% of premium smartphone sales – November 29, 2016
Apple seeks government incentives to set up manufacturing unit in India – November 7, 2016
Apple still mulling over its plans for India retail stores – August 12, 2016
Reports of Apple’s death in India are greatly exaggerated – August 5, 2016
Apple leases more than 40,000 square feet of office space in Bengaluru, India – July 25, 2016
India clears path for first Apple Retail Store – July 21, 2016
Indian government expected allow Apple Retail Stores without any sourcing requirement for 2-3 years – June 6, 2016
Indian government discussing waiver to permit Apple Retail Stores – May 30, 2016
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Blow for Apple and Indian consumers as Indian government pushes protectionism – May 25, 2016
Apple hits setback in push to open retail stores in India – May 24, 2016
Apple’s U-turn in India: From arrogance to servility – May 23, 2016
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Apple opens Maps development office in Hyderabad, India – May 19, 2016
Apple CEO Cook debuts in India – May 18, 2016
Apple to open first-of-its-kind iOS App Design and Development Accelerator in India – May 18, 2016
Tim Cook visits India: Apple to expand its Indian software development center, build local start-up accelerator program – May 17, 2016
Apple Retail Stores to open in India by end of next year – May 16, 2016
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Apple deprivileged as India bows to Washington D.C. consensus on mobile phone import tariffs – May 7, 2016
India rejects Apple’s plan to import and sell refurbished iPhones – May 3, 2016
Great News ! 👍
Pay to play in action. But it’s a great growth opportunity for iOS devices. And we may even see an Apple Store or two sooner rather than later. I must admit that I didn’t see this happening so quickly. Of course, it hasn’t happened quite yet. Fingers crossed.
That guy who is in the Oval Office will put an end to it and shut down Apple in the US for trying to do it. Result: Apple moves completely offshore.
Deals in India always get tantalisingly close, but finally cementing that deal is another matter. Doing business with India can be utterly frustrating, but it’s well worth persevering as it’s a huge opportunity. Apple overcame similar hurdles in China.
The guy with the long red tie shouldn’t have any objections to Apple operating in India. The arrangement would be to manufacture stuff there for sale on the Indian subcontinent. It represents additional profits for an American company which wouldn’t be available to the same extent by other means.