Apple is turning up the heat in India, urging officials to rewrite a decades-old tax law that could make or break its plans to turn the country into a global iPhone production hub. 🌏⚖️ At stake? Billions in potential taxes and the tech giant’s ability to scale up manufacturing outside China.
Sources say Apple wants India to tweak its 1961 Income Tax Act, which currently treats the company’s ownership of high-end iPhone machinery—leased to local manufacturers like Foxconn and Tata—as a taxable "business connection." This could slap Apple with massive bills if unresolved, slowing its push to diversify supply chains amid rising U.S.-China tensions. 🔌💸
"India’s mobile market is exploding, and Apple’s playing catch-up," says Counterpoint Research, noting iPhone sales there have doubled since 2022. While China still dominates global shipments, India’s share has quadrupled to 25% in the same period. 📈🇮🇳
But there’s a hitch: In China, Apple buys and loans machinery tax-free to manufacturers. In India, that same model could trigger levies under current rules. The company’s execs have reportedly held urgent talks with New Delhi, arguing that outdated laws could stifle growth. 🤝💼
"If the law changes, India becomes a global player overnight," an industry insider told NewspaperAmigo.com. With Apple’s suppliers already investing billions in five new plants, the stakes are sky-high. Will India bite? 🍎✨
