Apple To Begin Making iPhones In India By April End

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Tech giant, Apple is all set to start manufacturing iPhones in India starting from April, a regional minister confirmed, highlighting on the world's fastest growing smartphone market as it slows down in the rest of the world.

The tech biggie has joined hands with Taiwan based Wistron Corp. to help them set up the plant for manufacturing smartphones in India's tech capital, Bangalore, Karnataka, as reported by Bloomberg. The news has been confirmed by Priyank Kharge, the state Information Technology minister. The Apple executives have already met Kharge in January, 2017 to discuss the procedure as well as confirmed the timeline.

The news of Apple's iPhone assembly in India has come after several months of speculation on the tech giant's take on the market, especially after it has been overpowered by Samsung Electronics Co. The tech giant, Apple has renewed its focus on the country where it still holds the position of being on the top 10 at a time where it has slower growth in China. The California based Cupertino has also put forward a long list of demands to the federal government that includes a 15 year tax holiday for importing equipment and components.

"Apple's iPhones will be made in Bangalore and all devices will be targeted at the domestic market," added Kharge, IT minister for Karnataka. He further said that the state would help the company if it wants to turn to different contract manufacturers in the state. However, he said, "Apple's iPhones will be made in Bangalore and all devices will be targeted at the domestic market," as reported by BBC News.

Apple is unable to set up its own branded store in India due to the several rules that curb the activities of foreign companies. Tim Cook, the Chief Executive Officer had visited India in May, 2016 to sought government approval for opening its own store in India. Interestingly, Apple feels that manufacturing iPhones locally would also help them fetch brownie points. It would make the company achieve greater heights since P.M. Narendra Modi wants companies to manufacture products within the country.