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Several Chinese suppliers to Apple to soon seek govt approval to form JVs in India

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tech.hindustantimes.com

Several Chinese suppliers to iPhone maker Apple will "very soon" seek approval from the government to form joint ventures with domestic firms to set up facilities here, as the California-based company is looking to develop local capacities, sources said.

These suppliers need approval as the government's foreign direct investment (FDI) guidelines require companies from neighbouring countries to seek mandatory government nod for investments.

The government has given certain preliminary clearances to several Chinese suppliers, the sources said. According to the sources, Apple had some concerns with regard to its suppliers based in China and they had informally discussed the issue with the government.

The company has also informally shared a list of suppliers, many of which are likely to be approved as the government has no issues with them, one of the sources said, adding the government is keen to develop local capacities to promote manufacturing as part of the Make in India initiative. "Apple will facilitate them, and very soon they will come up with their applications.

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