Suresh Prabhu Welcomes Apple’s Manufacturing Plans In India

Apple seeks few concessions to establish plants in the country, while Indian Government asked for investment and job creation details.

0
571
Suresh Prabhu Welcomes Apple plants
Center Waiting For Formal Proposal From Apple For Manufacturing In India: Prabhu

Suresh Prabhu, Commerce and Industry Minister of India said that the Center will support the U.S. tech giant and iPhone manufacturer, Apple, to establish a manufacturing unit in the country. He added that the Center is waiting for a formal proposal from the Cupertino-based firm.

“Let us get a good proposal from them…We will be very happy to receive Apple, one of the top brands in the world,” said Prabhu in an interview to PTI.

He added that the Center will be happy to resolve if the tech firm faces any difficulty in setting up the manufacturing plant. The Center will set up a meeting with Chief Ministers of all the states who would like to offer them the best deal.

The Cupertino-based tech giant sought some concessions to establish a manufacturing plant in India. On the other hand, the Indian Government asked for details on investment and job creation in the proposed manufacturing unit.

Apple India had asked for concessions such as duty exemption on components, capital equipment, manufacturing & repair units, and consumables for smartphone manufacturing and service/repair for a duration of 15 years.

The company also sought exemption in the obligatory 30 percent local sourcing of components. Moreover, it demanded cutback in customs duties on semi-knocked-down and completely-knocked-down units of devices that will be assembled in the country.

In March, Nirmala Sitharaman, Commerce and Industry Minister at that time, conveyed the Rajya Sabha that the government did not accept ‘most of the demands’ of the firm, which is willing to set up manufacturing unit in India.

The probability of sanctioning the plans of Apple to set up manufacturing plant in India increases with Prabhu’s statements.