Apple Said to be in Talks With India to Manufacture Locally

The initiative encourages and incentivizes companies to assemble products in India by giving tax breaks and other benefits to companies. Specifically, it sought tax exemptions based on the justification that it makes "state-of-the-art" and "cutting-edge" technology products for which "local sourcing isn't possible". Today the Wall Street Journal confirms that old news. Lacking subsidies and abundant financing options, combined with lower income levels, Apple's premium positioning makes it a tough sell.

The Indian government may be considering Apple's request.

It's hard to overstate just how important Apple Stores are to the company.

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But signs of change are in the air.

In June, the government relaxed some of these restrictions and allowed single-brand retailers like Apple to open stores in the country - provided that they purchased at least 30 percent of their raw materials from Indian vendors after the first three years.

India is the second largest mobile phone market in the world.

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Apple is now in talks with India's government to begin manufacturing products locally, as the U.S. tech giant aims to increase its market foothold in the world's third-biggest smartphone market.

If Apple starts its iPhone Manufacturing unit in India, there are possibilities that t will start its own retail stores and there could also be a heavy price cut for the iPhone, making it accessible even to the growing middle class. A weakening rupee, buffers against currency inflation, and an increase in taxes on imported goods drove the iPhone's going rate to record heights past year.

According to Zauba.com, accessories boxed with the iPhone are taxed separately, and only a year ago, taxes in India were more than double of the custom duty paid for the iPhones at 28.85%. The same model retailed for $650 in the United States.

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To point out India's importance in Apple's roadmap, Tim Cook had said that Apple is not in India for a year or two, instead "100s of years".