India's Major Tax Exemption On Foreign-Funded Equipment For Contract Manufacturers—A Win For Apple? - Apple (NASDAQ:AAPL), Hon Hai Precision (OTC:HNHAF)

Group 1 - The Indian government has granted a major tax exemption for foreign companies supplying machinery to contract manufacturers, effective until the 2030-31 tax year [1][2] - This exemption applies only to factories in designated customs-bonded areas, which are considered outside India's customs border [2] - The move is expected to encourage investment in the electronics manufacturing sector, reducing financial burdens on contract manufacturers [3] Group 2 - Apple has experienced strong double-digit revenue growth in India, indicating a significant market opportunity as it holds a modest share [4] - The company is in discussions with Indian chipmakers to assemble and package iPhone components locally, which could enhance its supply chain [5] - Apple's Q1 revenue reached $143.76 billion, exceeding analyst estimates, with over 2.5 billion active devices in its installed base [5]