India reluctant to give special tax incentives to Apple
India is resisting
Apple Inc.'s (AAPL.O) 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 U.S. 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 (3231.TW), 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.
(Reporting by Manoj Kumar and Mayank Bhardwaj; editing
by Susan Thomas)
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