Latest Business News - Apple’s India plans have hit a sticking point over concessions the company is making a pitch for. Amid reports that the California-based firm is in advanced stages of talks with the government for setting up a manufacturing facility in India, a senior commerce ministry source said on Tuesday that Apple’s “growing demand for concessions” could be a dampener.
“Apple is apparently demanding concessions that no other company is asking for,” the source said.
While not specifying the latest demands made by the company, the source said these included its earlier demand of exemption from a local sourcing of products. The other demands include concessions on tax and the “creation of a suitable ecosystem”, the source added.
While the finance ministry is looking at the tax demand, the local sourcing norms as well as other things the firm has asked for will be examined by an inter-governmental panel comprising senior officials of the departments of industrial policy and promotion, revenue and electronics and information technology at a meeting slated to take place later this week.( Read More)
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