While India doesn’t usually offer exemptions on customs duty for businesses, in a move to bring iPhone manufacturing facilities to the country, government officials are set to discuss the possibility of giving Apple a 15-year exemption on customs duty according to Bloomberg.
The reports suggest Apple is eager to move production to the country, but first wants to agree an exemption policy for imports of components and equipment a source close to the discussions revealed. It’s no secret Apple wants to open stores in India, the fastest-growing smartphone market, however Indian officials state Apple, alongside other retailers, must source 30% of its components locally, though Bloomberg claim the country is relaxing those rules so technology companies can operate stores for three years before meeting that requirement.
“We will very much like Apple to come and have a base in India.” – India Minister for Information Technology Ravi Shankar Prasad.
Apple is scheduled to meet with the Indian government on Wednesday 25th January 2017, with speculations pointing to iPhone manufacturing launching in the country as soon as by the end of the year if the two sides agree on taxes, rules and regulations.