News Update- Apple’s “Make in India” plan

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Senior authorities of the US-based iPhone maker giant, Apple called upon commerce and industry minister Nirmala Sitharaman.

The meeting expects significance as the technology giant is seeking concessions like duty exemptions to set up its manufacturing unit in India.

“The meeting lasted for 40 minutes. There were three officials from the company, including the company’s Global Vice President Priya Balasubramaniam,” said the sources.

The company executives will meet a group of senior officials from various ministries on their demands.
In a communication to the government, the Cupertino-based technology giant major has asked for several tax and other incentives, including long-term duty exemptions, to enter the manufacturing sector in India.

At present, the government provides support by way of benefits under the Modified Special Incentive Package Scheme (MSIPS) to boost electronic manufacturing.

The firm sells its products through Apple-owned retail stores in countries like China, Germany, the US, the UK and France, among others. It has no completely-owned store in India and sells its products through distributors for example Redington and Ingram Micro.

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Sameeksha Bhardwaj, From ITvoir News Desk

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