India plans subsidies to promote Apple production in country

To bolster domestic manufacturing, particularly of smartphones by companies like Apple, the Indian government is considering new subsidies for electronic component manufacturers and reductions in import tariffs.
Shruti Srivastava, Sankalp Phartiyal, and Ruchi Bhatia for Bloomberg News:
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The Ministry of Electronics and IT proposed giving manufacturers of components like batteries and camera parts at least 230 billion rupees ($2.7 billion) in support, according to people familiar with the matter, who asked not to be identified as the discussions are private.
The ministry also recommended reducing tariffs on some electronic components, an industry demand that will help bring down production costs, one of the people said.
A final decision on the proposals will be made by the cabinet, and if approved, details may be announced in the government’s upcoming budget in February, the people said.
India’s current tariffs on electronics components — ranging from zero to 20% — is about 5%-6% higher than countries such as China and Malaysia, according to research from Niti Aayog.

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MacDailyNews Take: Obviously, with “Make In India” as the goal, it’d be smart for India to rationalize tariffs and incentivize production wherever possible.

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