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The Dollar Business Bureau  Apple CEO Tim Cook has expressed resounding optimism for growth prospects of the underpenetrated brand in India – the world's third-largest smartphone market.  "We’re very optimistic about our future in this remarkable country with its very large, young, and tech-savvy population, fast-growing economy, and improving 4G network infrastructure,” Cook said in the second quarter results earnings call yesterday.  Talking about India's investment in 4G infrastructure, Tim also said that growing 4G network in the country was a positive indication for Apple to concentrate more of its efforts in establishing a local presence.  “But they are moving fast. They’re moving at a speed that I have not seen in any other country in the world once they were started, and it is ...

PTI The government wants iPhone maker Apple to consider a new manufacturing scheme offering duty benefits to set up its plants in the country. "Apple had asked for a set of concessions. For a period of 15 years all the components that Apple imports, they want them to be free of duty. We have a phased manufacturing programme (PMP) because we want more and more value addition to come to the country. We want them to understand how this PMP will work and how they can dove tail into that," Ministry of Electronics and IT Secretary Aruna Sundararajan told reporters on Saturday. She was speaking on the sidelines of the annual session of the Confederation of Indian Industry (CII). ...

The Dollar Business Bureau After years of pursuing the Indian government for additional sops, Apple has finally decided to move forward with its plans of setting up its initial manufacturing facility in Karnataka. There has been no agreement, or memorandum of understanding (MoU) finalised between Apple and the Karnataka government.  The Karnataka government on Thursday welcomed Apple Inc’s proposal of assembling iPhones in the state. “Apple’s intentions to manufacture in Bengaluru will foster cutting edge technology ecosystem and supply chain development in the state,” Karnataka IT Minister Priyank Kharge said in a tweet.  California-based Apple has been looking to tap the Indian smartphone market, one of the fastest growing smartphone markets in the world. Last month, Apple made a presentation to the Indian government, ...

PTI Near about three lakh apple boxes from Himachal Pradesh have been exported to terminal markets since the beginning of the marketing season, government said today  "Till date, 618 trucks carrying 2,78,773 boxes of apple have been exported to terminal markets since the beginning of the marketing season," spokesman, Horticulture Department, said. He said the government will open 279 more procurement centres to facilitate the growers to sell the produce under the Market Intervention scheme. "Government has already opened 80 procurement centres and out of 279 new centers to be opened from August 1 on public demand, 162 collection centres will be opened and operated by the HPMC and 117 by the HIMFED," he added.

The Dollar Business Bureau The government of India may give more time to global companies like Apple Inc. to abide by the sourcing norms for opening of single-brand retail stores in the country. According to officials, the government is not in favor of diluting the mandatory 30 per cent local outsourcing. However, the government is open to the possibility of giving more time to such firms. A finance ministry official said, “The Department of Industrial Policy and Promotion (DIPP) is looking to tweak the FDI policy on sourcing. 30 per cent local sourcing norm may not be changed, but the time given to comply might be relaxed." The local sourcing norms have seen disagreement between the Commerce & Industry ministry and the Finance ministry. ...

The Dollar Business Bureau European Union and the United States raised concerns over India’s recent policy to limit the entry of imported apples to only the Jawaharlal Nehru Port (Nhava Sheva) in Navi Mumbai and questioned India of distorting trade compliance under its WTO commitments.  They requested India to give further information on the consequences if apples are imported through other ports, i.e. Chennai, Kolkata and Krishnapatnam. “The US meanwhile said the measure has so far "had an impact on trade" and took issue over the lack of a comment period before the new policy was implemented. New Zealand, Chile, and Australia also echoed these concerns,” the global body said in a statement. In reply, India said that the measure doesn’t ...