APPLE TO MAKE A FACTORY IN INDIA!!!!

[Mo12]

Great news for Modi and people wanting jobs in the future.

http://www.forbes.com/sites/jaysoma...acturing-plant-in-india-is-a-go/#38e2f29a2749

It seems like Apple has come to an agreement with the government of Indian state, Karnataka, to set up a manufacturing plant in Bangalore, aka Bengaluru.

Here's a statement released by the infotech department of the government of Karnataka: "Apple’s decision on initial manufacturing in Bengaluru has further enhanced the reputation of Bengaluru as the most preferred destination for foreign investment and further validation of the State Government Policies aimed at fostering manufacturing, innovation and investments in Karnataka."

Karnataka’s information technology minister Priyank Kharge added that Apple’s representatives met ministers and officials of the Karnataka government and had positive discussions about manufacturing initiatives.

I am sure there will be more on this development in the coming days


TIM COOK also praises India for its demonisation move as well:

Here's what Tim Cook said about India on the company's earnings call earlier this week, “Despite the demonetization move in India that created lots of economic pressure there last quarter, despite that, we had all-time record revenue results, and so we were very happy about that. I think in the longer term, it’s a great move, and I feel really good about how we’re doing there. We are in discussions on a number of things, including retail stores, and fully intend to invest significantly in the country and believe it’s a great place to be.”

 

[T90TankGuy]

Apple do not make their own products they outsource them to people like foxcon , guess they will start assembling apple devices here. hopefully that will drive down the price and we do not end up paying a premium over the prices in the US.

 

[Water Car Engineer]

I heard for them to open stores, they have to assemble in India.

 

[Rajaraja Chola]

Nothing new. Most of the so called manufactured Made in India mobiles are screw driver tech. Though its not a bad start. One step at a time. We need to aggressively woo mobile accessory makers like screens, speakers, motherboards, memory sticks, processor, outer cases etc to have realistic drop in prices and to reduce imports.

 

[T90TankGuy]

I heard for them to open stores, they have to assemble in India.

Yeah the govt asked them to set up an assembly plant here but apple wanted a lot of concessions , like a 15 yr tax holiday .

 

[Nilgiri]

Yeah the govt asked them to set up an assembly plant here but apple wanted a lot of concessions , like a 15 yr tax holiday .

So who blinked first then?

 

[Water Car Engineer]

So who blinked first then?

They tried to make stores in India, bypassing these rules. Didnt work, now we're hearing this. Came to some sort of an agreement.

 

[supun1]

Apple do not make their own products they outsource them to people like foxcon , guess they will start assembling apple devices here. hopefully that will drive down the price and we do not end up paying a premium over the prices in the US.

The price you pay for apple products has nothing to do with the cost of production to apple, lower cost of production will mean apple will be more competitive and more profitable.

 

[Mo12]

With Apple wanting to make a factory in India and with the entire ecosystem of manufacturing certain percentage in India, this move can create up to 1 lakh jobs.

India needs more jobs for its big population

 

[Dungeness]

Apple is into a long-term play in India market. Apple sold 2.5 million iPhones in India 2016, 25% up over 2015, while its revenues in Chinese market decreased by 12%, where it sold nearly 50 million iPhones in 2016.

 

[Nilgiri]

They tried to make stores in India, bypassing these rules. Didnt work, now we're hearing this. Came to some sort of an agreement.

There better not be some crazy tax holiday. India certainly has many strong bargaining chips at its disposal that I hope were employed.

 

[Mo12]

There better not be some crazy tax holiday. India certainly has many strong bargaining chips at its disposal that I hope were employed.

If there is some tax break, its still great news.

Considering India couldnt manufacture any mobile phones in past 5 year, its great to know we will be building iphones in 3 years time.

This move will give confidence on other big firms to make in India, as a big company like Apple has done all its due diligence on an India investment

Plus it makes great sense, China is now a developed nation and is making bigger machines, it good these jobs are going to India instead of other nations

 

[Nilgiri]

If there is some tax break, its still great news.

Considering India couldnt manufacture any mobile phones part 5 year, its great to know we will be building iphones in 3 years time.

This move will give confidence on other big firms to make in India, as a big company like Apple has done all its due diligence on an India investment

Plus it makes great sense, China is now a developed nation and is making bigger machines, it good these jobs are going to India instead of other nations

I said crazy tax break. Of course there can be some incentive, but it should not be beyond reasonable.

With scrapping of FIPB now, things will become even easier now for such investment, without the need for case by case incentives.

 

[T90TankGuy]

The price you pay for apple products has nothing to do with the cost of production to apple, lower cost of production will mean apple will be more competitive and more profitable.

I know that , its just that we pay a premium over the cost in the states due to taxes. if they are made in India this will be reduced.

 

[$@rJen]

The price you pay for apple products has nothing to do with the cost of production to apple, lower cost of production will mean apple will be more competitive and more profitable.

Its not the Production but tax.. India pays around 3oo $ more than Amricans, Due to the tax duties in India where Phone will have a different duty and the charger will have different duties. again a state will have different.. now with GST and locally manufacturing the price might come down a little.