Indian Government Offering Tax Concession to Apple To Increase iPhone Production in Country

India has offered tax concessions to Apple to expand iPhone production in the country just days after it was announced that the Cupertino giant kicked off local iPhone SE production.
This is part of Prime Minister Narendra Modi’s plans to boost local manufacturing.

 A top Indian government official confirmed that it has offered Apple to import components required for manufacturing more iPhones in the country tax-free. The only condition from the Indian government here is that Apple starts sourcing more components locally over time.
“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.
Local manufacturing component would have to be increased gradually, he added.

The tax concessions will be subject to the condition of increasing local value addition over a period of time, to which Apple has reportedly agreed to.

“It will be a little early to say that India and Apple have agreed on the common ground,“ cautioned a government official.

[Source]


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