Apple given tax sops to import handset parts, co to expand Bengaluru unit, says Ravi Shankar Prasad

Apple, which sold over 50 million iPhones in the March quarter, down one percent year-on-year, is looking for new markets as its sales in China have weakened.

PTI May 24, 2017 08:07:44 IST
Apple given tax sops to import handset parts, co to expand Bengaluru unit, says Ravi Shankar Prasad

New Delhi: India has offered to allow Apple Inc to import mobile handset components intended for use in local manufacturing tax-free, a top government official said on Tuesday.

The tax concessions will be subject to the condition of increasing local value addition over a period of time.

Apple given tax sops to import handset parts co to expand Bengaluru unit says Ravi Shankar Prasad

Reuters

Apple Inc wants to expand its contract manufacturer's facility in the Indian tech hub of Bengaluru, Ravi Shankar Prasad, the Union Minister for Electronics and IT, said on Tuesday, as the iPhone maker seeks a bigger share in one of the world's biggest smartphone markets.

Cupertino, California-based Apple last week started making iPhone SE at its Taiwanese contract manufacturer Wistron's plant in Bengaluru.

Apple, which sold over 50 million iPhones in the March quarter, down one percent year-on-year, is looking for new markets as its sales in China have weakened.

Among a set of tax concessions, Apple had initially sought a 15-years tax holiday for all components that it would import for setting up a manufacturing facility in India.

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