President Donald Trump stated he has urged Apple’s CEO Tim Cook to halt its partners’ building out manufacturing facilities in India for U.S.-bound devices, encouraging the iPhone maker to increase domestic production as it shifts away from reliance on China. Jordan Fabian and Sankalp Phartiyal for Bloomberg News:
India’s “Make in India” program, launched in 2014, aims to transform the country into a global manufacturing hub. It promotes domestic production by attracting foreign investment, easing regulatory frameworks, and fostering innovation. Targeting sectors like electronics, automobiles, and renewable energy, the initiative seeks to boost job creation, enhance skill development, and reduce reliance on imports. With incentives like tax breaks and streamlined approvals, it has drawn companies like Apple to set up assembly plants. Over the past decade, “Make in India” has spurred economic growth, positioning India as a competitive player in global supply chains while strengthening self-reliance. The “Make in India” program includes tariffs to promote domestic manufacturing. It imposes higher import duties on foreign goods, like electronics and components, to encourage local production. For example, tariffs on mobile phone parts range from 10-20%, pushing companies like Apple to assemble in India. Exemptions or lower duties apply to inputs for export-oriented manufacturing. These tariffs aim to reduce import dependency, boost job creation, and make Indian-made products competitive while also potentially raising costs for consumers of goods not made in India. Support MacDailyNews at no extra cost to you by using this link to shop at Amazon. The post President Trump asks Apple to stop moving iPhone production to India appeared first on MacDailyNews. Invite your friends and earn rewardsIf you enjoy MacDailyNews, share it with your friends and earn rewards when they subscribe. |
Thursday, May 15, 2025
President Trump asks Apple to stop moving iPhone production to India
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