It is expected that very soon, Apple might install its manufacturing unit in the silicon city, Bengaluru. The company officials are all set to meet the Indian Government to discuss the possibility of setting up a manufacturing unit. A team of senior Apple Inc. executives are scheduled to arrive next week, to present the company’s case for seeking tax benefits and other exemptions.
It is believed that the tech giant might seek a host of incentives and concessions from the Indian Government on the ground that it makes state-of-the-art and cutting-edge technology products for which local sourcing is not possible.
The meeting will be held in the capital on January 25 and the attendants include Representatives from Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry (CIM), Department Of Revenue (DOR), Ministry of Electronics and Information Technology (MEITY).
The company is aiming to acquire a 15-year custom duty exemption on imports and various other tax incentives to start a manufacturing facility in India. In an earlier attempt, the Cupertino giant was denied sanction by the finance ministry when it had asked for a 30 percent waiver on the local sourcing norm for opening retail outlets in the country.
However, the popular companies like Xiaomi, Huawei, Gionee and the likes are already manufacturing their products in India without demanding any incentive from the government. If government grants the incentives and concessions for Apple, then very soon the manufacturing unit will start by the end of this year.