CUPERTINO (dpa-AFX) - Apple Inc. (AAPL) is willing to start making iPhones in India, but it wants a big helping hand from the Indian government first, according to reports.
The Cupertino, California-based company is scheduled to meet with officials in New Delhi next week to discuss the prospects for setting up manufacturing facilities in the country this year. Apple is asking for a long list of financial concessions from India. Among the requests, the company is seeking a 15-year tax holiday on imports of components and equipment, the reports said.
Chief Executive Officer Tim Cook visited the country for the first time in May as he sought government approval for Apple to open its own stores. India has insisted that Apple, like any single-brand retailer, source 30 percent of its components locally, though the country is relaxing those rules so technology companies can operate stores for three years before meeting that requirement.
The company has sent a list of requests ahead of its January 25 meeting with officials from several government departments, including Electronics and Commerce. Apple is also asking for a waiver on customs duties for new and used equipment brought into India. Apple reportedly wants full exemption from duties on raw materials, components and capital equipment. Apple won't insist on getting everything on its wish list.
Copyright RTT News/dpa-AFX