The stock of Apple Inc (NASDAQ:AAPL) closed at $153.39 after climbing 1.24% in yesterday’s trading session. This company has been seeking out a number of exemptions for setting up a unit to assemble iPhones. The Indian government has been closely looking into the matter. The top bureaucrat in the Department of Industrial Policy and Promotion, Ramesh Abhishek revealed this in a recent press conference.
Apple has gotten in touch with some top federal government officials with the hope of convincing them to implement a number of reforms in tax and policies. If things move as planned, the giant phone maker is optimistic that it will be able to build out its iPhone assembly work in the fast growing country.
The provider has been selling its wide range of products through the Indian resellers. Some time back, India decided to give one of the top Chinese smartphone makers the permission to set up its own single-brand retail stores.
A few years back, Apple almost lost its in business. It does not want to go back to that rut ever again and that best explains why it has since then remained a vibrant company. It has been pretty swift at grasping all the business growth opportunities that come its way .A lot of people will be closely watching to see how the Indian government reacts to the company’s request.
The company’s spokesperson in an interview said that their dream to move to India will present a number of challenges. According to him, the company has already developed ‘shock absorbers’ to guard itself against anything that might show up.
He added that it was a good thing that they had already tried their business in the country through the resellers. The company’s products were performing pretty well and that was one of the reasons behind it considering India an ideal place for the latest project.
The Indian government like any other government might take some time to think about the matter. That is because it will need to consider the impact of letting Apple exact its move among other reasons.