“Commerce and Industry Minister Suresh Prabhu said Friday he will be meeting top leadership of US-based iPhone maker Apple in Davos next month to discuss their plan about setting up manufacturing facilities in India,” Press Trust of India reports. “He said that talks are already on with the company, and the government can look at the demands of Apple Inc for setting up its manufacturing facility in the country.”
“‘We are still talking to Apple. Negotiations are ongoing. If they agree, we will like them to set up offices in India as well. I am meeting Apple’s top leadership in Davos in early January,’ the minister told PTI in an interview,” PTI reports. “‘When their offer came two-three years back and today, the situation has changed for them as well as for us. So, it is a good time to meet and discuss and finalise,’ he added. When asked about tax and other concessions being demanded by the company, the minister said: ‘We can look into that.'”
Apple has “sought duty exemption on manufacturing and repair units, components, capital equipment and consumables for smartphone manufacturing and service/repair for a period of 15 years,” PTI reports. “The company also wanted relaxation in the mandated 30 percent local sourcing of components, besides reduction in customs duties on completely-knocked-down and semi-knocked- down units of devices that are to be assembled in the country.”
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MacDailyNews Take: Hopefully a deal can be stuck as it will result in more affordable Apple products for consumers in India!