No proposal from Apple to make iPhones in India as yet

Image
Press Trust of India New Delhi
Last Updated : Aug 03 2016 | 4:42 PM IST
Apple CEO Tim Cook during his visit met Prime Minister Narendra Modi and spoke of possibilities of manufacturing, but the company has not submitted any proposal with the IT Ministry to set up its plant in India, Parliament was informed today.
Cook visited Hyderabad on May 20 to launch the technology centre relating to their maps division in presence of Chief Minister of Telangana K Chandrashekar Rao, Minister of State for Electronics and Information Technology P P Chaudhary said in a reply to the Lok Sabha.
"He also called on the Prime Minister on May 21, 2016. He shared Apple Inc's future plans for India and spoke of possibilities of manufacturing and retailing in India. There is no proposal with this ministry from Apple Inc to set up a manufacturing unit in the country," Chaudhary said.
After meeting senior officials from manufacturing giant Foxconn, partner of Apple, the then telecom minister Ravi Shankar Prasad in May had said the Cupertino-based technology major was coming to manufacture iPhones in India.
Apple has been lobbying hard for exemption from the mandatory 30 per cent local sourcing on the ground that its products have such high-end technology that these cannot be sourced locally here.
The government in June relaxed FDI norms by giving a three-year exemption from local sourcing to foreign players in single-brand retail and a further five-year relaxation for 'state-of-the-art' and 'cutting-edge' technology.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 03 2016 | 4:42 PM IST

Next Story