Indian government has asked detail plan from tech giant about its investment and job creations in order to felicitate Its purposed manufacturing unit. The decision will
be taken up after considering the magnitude of benefit it will add in Indian economy, said sources. Indian PM Narendra Modi, who is in US, is scheduled to meet top
CEOs of global gaints such as Apple, Walmart and Caterpillar to talk about job creations opprtunity on Sunday.
iPhone production in India set to switch to top gear after getting green signal from govt and the GST roll out on July 1.
Earlier, Apple had purposed the govt that it is ready kick off manufacturing operations but wants some tweak in fiscal concessions. Besides exemption from the Customs
duty on imports of components and equipment for 15 years, Apple has sought relaxation in the mandated 30 per cent local sourcing of components.
World’s most valued company has sought modifications in the government’s phased manufacturing programme (PMP) as it plans to set up a manufacturing unit in the
country.Under PMP, benefits are extended to parts and sub- parts as the manufacturing ecosystem evolves.
Apple’s production in India is expected to swing into high gear once clarity emerges after the GST rollout on July 1. Apple sells its products through company-owned
retail stores in countries like China, Germany, the US, the UK and France, among others. It has no wholly-owned store in India and sells its products through
distributors such as Redington and Ingram Micro.
With sales going down in the US and China, Apple is looking India’s way, which is thriving market for iPhone maker to set up a manufacturing unit to cut costs. The
number of iPhones sold globally fell 1 per cent in the first calendar quarter, compared with the same period a year ago.
Last week Entrackr reported, how Apple in its latest strategy to win price conscious India is allowing online retailers such as Amazon and Flipkart to sale the retro model at concession rate.
After clearance, India will be the third country to assemble iPhones. Meanwhile, iPhone maker Apple has hit the Indian market with its first batch of Assembled in India iPhone. It will be available in few select stores in Bengaluru with price tag Rs 27,200 for a 32 GB and Rs 37, 200 for a 128 GB model.