Apple to be considered as a ‘marquee’ investor: IT Secretary

NEW DELHI: The Ministry of Electronics and IT, along with the departments of commerce and revenue will take a "coordinated" view on Apple's conditions for local production in India though an investment from the iPhone maker will be considered a “marquee” one, a top official said.
IT secretary Aruna Sundararajan told ET that India is looking at Apple’s as a “marquee investment” as part of the government’s efforts to rope in large-size companies that invest somewhere between Rs 10,000 and Rs 25,000 crore as a part of phase- II of the electronics manufacturing initiative that has attracted Rs 1.32 lakh crore so far from nearly 50 mid-tolarge companies.
Top executives of the US-based company will be meeting government officials on January 22 about its plans to kick-off manufacturing in India for which it has sought a slew of incentives including a 15-year holiday on customs duty.
“We are looking at its (Apple) demands and all the departments will take a common view in this matter,” Sundararajan said. Apple executives would be meeting the Department of Industrial Policy & Promotion officials to discuss policy intervention.
Sources have previously told ET that the government won’t offer any special concessions to Apple but it is reviewing its entire policy on mobile phone manufacturing as part of an effort to promote the ‘Make in India’ initiative.
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The move makes sense. The government should make India an attractive destination to investors, not by offering tailored-made concessions or taxbreaks. Manufacturing is stifled due to shortage of power, skills and good telecom connectivity. The biggest puzzle is power, with many state electricity boards, reeling under losses. States should stop doling out free power. Reform will enthuse investors.