LIVE TV DownloadNews18 App
News18 English
»
1-min read

India Reluctant to Give Special Tax Incentives to Apple

India is resisting Apple Inc's demand for tax incentives to make iPhones in the country, with the trade minister saying on Thursday that New Delhi may not make exceptions for the US tech giant.

Reuters

Updated:January 5, 2017, 6:14 PM IST
facebookTwittergoogleskypewhatsapp
India Reluctant to Give Special Tax Incentives to Apple
The new iPhone 7 at an Apple store in Beijing on September 16, 2016. (Reuters)
Loading...

New Delhi: India is resisting Apple Inc's demand for tax incentives to make iPhones in the country, with the trade minister saying on Thursday that New Delhi may not make exceptions for the US tech giant.

Apple wants to open its own stores in India but has been asked by the government to locally source at least some of the components, as part of Prime Minister Narendra Modi's bid to boost manufacturing in the country.

Apple has sought tax concessions, including lower import and manufacturing duties, to make iPhones locally, according to a government official familiar with the situation.

Trade Minister Nirmala Sitharaman said if India were to agree to any concessions, they would likely apply to all smart phone manufacturers, and not just Apple.

Smartphone component maker Wistron Corp, which counts Apple Inc among its customers, has applied for permission to expand its plant in Bengaluru, a regional government official told Reuters on Monday.

Apple declined to comment.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Kaveri Seed 417.35 -0.71
Yes Bank 217.85 2.35
TCS 1,914.75 0.52
Reliance 1,234.35 1.50
Tata Steel 491.15 4.29
Company Price Change %Gain
Reliance 1,234.35 1.48
Apollo Hospital 1,131.75 1.18
Yes Bank 217.90 2.57
Kaveri Seed 416.90 -1.08
Tata Steel 490.60 4.13
Top Gainers
Company Price Change %Gain
Indiabulls Hsg 645.20 5.03
Vedanta 160.25 4.67
Adani Ports 354.75 4.48
Tata Steel 491.15 4.29
ONGC 144.05 3.52
Company Price Change %Gain
Vedanta 160.15 4.67
Tata Steel 490.60 4.13
ONGC 144.05 3.63
NTPC 137.20 2.85
Yes Bank 217.90 2.57
Top Losers
Company Price Change %Gain
Hero Motocorp 2,623.75 -0.50
Bajaj Auto 2,774.70 -0.47
Dr Reddys Labs 2,525.15 -0.46
Zee Entertain 445.05 -0.31
HUL 1,733.50 -0.26
Company Price Change %Gain
Hero Motocorp 2,625.60 -0.66
HUL 1,733.60 -0.30
Bajaj Auto 2,778.20 -0.16
IndusInd Bank 1,480.80 -0.08

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results