India proposes extending tax breaks for contract manufacturing in a boost for Apple
India proposed extending tax exemptions for foreign companies supplying machinery to contract manufacturers until 2041, benefiting Apple as it expands in the Indian market. This move addresses Apple's concerns over potential tax liabilities on profits from its contract manufacturers, which could arise from India's tax laws. The proposal represents a significant win for Apple, which has actively lobbied for these changes to enhance its manufacturing operations in India.