India Proposes Extending Tax Breaks for Contract Manufacturing in a Boost for Apple

3-line summary

• India proposed extending tax exemptions until 2041 for foreign companies that provide machinery to contract manufacturers, handing a win to Apple, according to a Reuters report.
• India is set to make 26% of the world's iPhones in 2026, up from 6% four years ago, according to Counterpoint Research cited in the report.

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