iPhone manufacturing in India is ‘almost a done deal’ according to officials following a meeting with Apple
Apple’s manufacturing arrangement with India is ‘almost a done deal’ according to government officials who spoke to The Wall Street Journal following a meeting with the California tech giant on Wednesday, adding that they shall “look into” Apple’s demands, calling many of them “workable.”
Discussions between Apple and the Indian government have been a long time in the pipeline, with Apple’s ‘wish list’ comprising of a 15-year exemption on customs duty which has slowed down the process and caused conflicts between different Indian ministries. While India seems to be keen on the new ‘Made in India’ program, Apple’s demands would mean they could loose a substantial amount of revenue and break rules that other companies haven’t been able to bend.
“We’ve been working hard to develop our operations in India,” an Apple representative informed Reuters. – “We appreciate the constructive and open dialogue we’ve had with government about further expanding our local operations.”
Currently, India has a lot of growth opportunity for Apple. With it’s rise in the middle class and ever growing population, this market could potentially be a goldmine for Apple. Indian rules mean the company must source 30% of their products from the country prior to opening a retail store, so expect Apple to open their doors once the first batch of ‘Made in India’ products roll off the production line.