India drops restrictive manufacturing clauses, opening the door to AppleThe contentious clauses included valuing plant and machinery brought into the country at just 40% of its value.
What you need to know
Apple's opportunities for manufacturing in India just got a big boost.
That's because the government has dropped contentious clauses from its manufacturing policy.
It is also in talks with a third Apple partner, Pegatron, about a relocation to the country.
The government in India has removed several contentious clauses from its manufacturing policy, paving the way for Apple to do more business in the country.
As reported by The Economic Times:
The government has dropped contentious clauses including the evaluation of plant and machinery to be brought from China and South Korea, which had been opposed mainly by Apple, paving the way for the iPhone maker and others like Samsung, Foxconn, Oppo, Vivo, and Flextronics to make a larger play in local production using the production-linked incentive (PLI) scheme.
One official told the outlet that ...
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India drops restrictive manufacturing clauses, opening the door to Apple
