No sweetheart deals to get Apple into India, says source
Apple CEO Tim Cook was said to have written to Prime Minister Narendra Modi for concessions to regulations on corporate practices in November. The company has wanted a factory in the subcontinent in a while, but it would’ve had to start ramping up domestics components sourcing in order to build one.
Part of Modi’s original “Make in India” scheme required single-brand retailers to source 30 percent of their parts from the country before starting sales there. Revisions to the program made last June eased that requirement to within three years of establishing business in India and up to eight years for companies selling “state of the art or cutting edge technology”.
The anonymous official said that the government didn’t want to be seen favoring one company against all others in complying with this rule.
Apple may end up partnering with its well-known iPhone assembly contractor, Foxconn, to get quality products into India much faster. Infinite Loop was banned from importing pre-owned devices into the budget market in order to have a fighting chance at upping its 2 percent overall share.