Zamen | زامن
Indian government amends manufacturing policy ahead of Apple meet
Apple will meet with Indian government next week to discuss local manufacturing.
Apple executives will meet with Indian government officials on January 25 to further discuss the company's local manufacturing plans. Apple said that it would need financial incentives from the government before it could set up a base here, along with a list of concessions that include an exemption of import taxes on components for 15 years.
The government has since announced that instead of providing concessions to a single company — Apple — it would retool its strategy on local electronics manufacturing to level the playing field for all manufacturers.
The government will now provide up to $1.5 billion in incentives under the Modified Special Incentive Package Scheme, and is making it easier for manufacturers to clear regulatory hurdles. Instead of going through various government agencies, manufacturers investing over $1 billion in India can now get their proposals sanctioned by a single panel.
The government is trying to make India a friendlier manufacturing destination for foreign brands, according to Information Technology Minister Ravi Shankar Prasad: