“India has offered to allow Apple Inc. to import mobile handset components intended for use in local manufacturing tax free, a top government official said on Tuesday,” Manoj Kumar reports for Reuters. “The tax concessions will be subject to the condition of increasing local value addition over a period of time.”

“Cupertino, California-based Apple last week started making iPhone SE at its Taiwanese contract manufacturer Wistron’s plant in Bengaluru,” Kumar reports. “Among a set of tax concessions, Apple had initially sought a 15-years tax holiday for all components that it would import for setting up a manufacturing facility in India.”

“A panel of ministries rejected that demand and has offered a phased program to increase the share of local production in the manufacturing, Aruna Sundararajan, Secretary at the Ministry of Electronics and IT said. ‘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,” Kumar reports. “Apple has agreed to increase local share in production over a period of time, but there was a difference between the plans of the two sides, she said.”

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MacDailyNews Take: Getting closer.

SEE ALSO:
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India to consider Apple request for tax breaks and policy exemptions with ‘open mind’ – January 18, 2017
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