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Indian government amends manufacturing policy ahead of Apple meet

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Indian government amends manufacturing policy ahead of Apple meet

Apple will meet with Indian government subsequent week to speak about native manufacturing.

Apple executives will meet with Indian government officers on January 25 to additional talk about the corporate's native manufacturing plans. Apple stated that it would need financial incentives from the government ahead of it would arrange a base right here, at the side of an inventory of concessions that come with an exemption of import taxes on parts for 15 years.

The government has since introduced that as an alternative of offering concessions to a unmarried corporate — Apple — it might retool its strategy on native electronics manufacturing to degree the enjoying box for all producers.

The government will now supply as much as $1.5 billion in incentives underneath the Changed Particular Incentive Package deal Scheme, and is making it more uncomplicated for producers to transparent regulatory hurdles. As an alternative of going thru more than a few government businesses, producers making an investment over $1 billion in India can now get their proposals sanctioned through a unmarried panel.

The government is making an attempt to make India a friendlier manufacturing vacation spot for overseas manufacturers, consistent with Knowledge Generation Minister Ravi Shankar Prasad:

We will be able to very similar to Apple to return and feature a base in India. We need to make India a large hub of digital manufacturing.

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