STOCK MARKET BSE NSE

Apple in talks with India to manufacture locally: WSJ

The Journal said Apple, in a letter to the federal government in November, outlined manufacturing plans and asked for financial incentives.

Published: 20th December 2016 02:24 PM  |   Last Updated: 20th December 2016 02:24 PM   |  A+A-

By Reuters

MUMBAI: Apple Inc is in talks with India's government to explore making products locally, the Wall Street Journal reported on Tuesday, as the U.S. firm aims to make deeper inroads in the world's second-largest mobile phone market by users.

Prime Minister Narendra Modi is trying to boost technology manufacturing in the country through his 'Make in India' initiative. His government in June exempted foreign retailers for three years from a requirement to locally source 30 percent of goods sold in their stores.

The Journal said Apple, in a letter to the federal government in November, outlined manufacturing plans and asked for financial incentives.

Government representatives were not available to comment while an Apple spokesman in India did not immediately respond to an email from Reuters seeking comment.

Local manufacturing would help Apple open retail stores in the country where its iPhones account for less than 2 percent of Indian smartphones sales.

Taiwan's Hon Hai Precision Industry Co Ltd (Foxconn) <2317.TW>, which makes Apple devices such as iPhones and iPads, has a manufacturing facility in southern India.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL_2020
flipboard facebook twitter whatsapp