India Proposes Tax Break Extension Until 2041 to Boost Apple Manufacturing, Electronics Exports

India has proposed extending tax exemptions for foreign companies supplying machinery to contract manufacturers until March 31, 2041, a move expected to significantly strengthen Apple’s manufacturing expansion and reinforce the country’s position as a global electronics production hub. The proposal, included in draft tax amendments, aims to provide long-term tax certainty for multinational companies investing in India’s manufacturing ecosystem, Reuters news report said.