Apple discusses iPhone local manufacturing plan with FinMin officials

Apple discusses iPhone local manufacturing plan with FinMin officials

Apple discusses iPhone local manufacturing plan with FinMin officials

Meanwhile, the Tata Group is reportedly considering the acquisition of a factory belonging to a supplier of Apple Inc. This move would mark the first instance of a domestic company entering iPhone assembly operations.

SUMMARY

  • Apple’s Indian division recently held a detailed meeting with representatives from the Ministry of Finance to discuss their plans for establishing an iPhone manufacturing facility in India.
  • Government sources have told Business Today Television that the discussions centred around the future of smartphone manufacturing within India and how India’s policies could be aligned to support this initiative.
  • A finance ministry official said the Apple team expressed optimism about India’s potential for value addition.

Apple’s Indian division recently held a detailed meeting with representatives from the Ministry of Finance to discuss their plans for establishing an iPhone manufacturing facility in India.

Government sources have told Business Today Television that the discussions centred around the future of smartphone manufacturing within India and how India’s policies could be aligned to support this initiative.

A Finance Ministry official said the Apple team expressed optimism about India’s potential for value addition. “A perspective shared during the meeting was that India, along with Vietnam and Cambodia, could emerge as the next prominent destinations for smartphone production,” the official added.

Meanwhile, the Tata Group is reportedly considering the acquisition of a factory belonging to a supplier of Apple Inc. This move would mark the first instance of a domestic company entering iPhone assembly operations.

While an official announcement is anticipated soon, officials said that Apple India executives also discussed and reiterated the possibility of diversifying their manufacturing base beyond China to tap into other markets.

An official from the Ministry of Electronics and Information Technology added that major tech companies have displayed significant interest in the Indian market over the past year. If necessary, the ministry would collaborate with the finance department to explore potential tax incentives for such ventures, he added.
 

Published on: Aug 21, 2023, 5:38 PM IST

Posted by: Shubham Singh, Aug 21, 2023, 5:34 PM IST

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