The tech giant has already begun export of Made in India iPhones but is seeking a ‘globally competitive tariff regime’ to boost its export (shipping and sales) margin
Smartphone maker Apple expects the Indian government to address policy shortcomings for the sector, especially regarding trade, before it expands its manufacturing facility in Bengaluru, as per a Financial Express report.
The tech giant has already begun export of Made in India iPhones but is seeking a ‘globally competitive tariff regime’ to boost its export (shipping and sales) margin, the paper added.
As per the report, the government is mulling negligible to nil duties on necessary import of components for products that would be re-exported.
The move would find favour with Apple, who assembles its phones (iPhone SE – 2017, iPhone 6s - 2018) from parts sourced via contract manufacturers (Winstron) at the Bengaluru facility for export to the Asian and European markets.
Moneycontrol could not independently verify the report.Policies for the sector, especially against competitors such as China and Vietnam, put Indian exports at a disadvantage. Against initial expectations that India could benefit from the soured international trade equations, the country has not made the most of the US-China trade tussle. Instead, trade pacts worked out by South-East Asian countries have filled the gap.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.