Apple seeks change in tax law amid expansion push

APPLE IS LOBBYING the government to modify its income tax law to ensure the company is not taxed for ownership of high-end iPhone machinery it provides to its contract manufacturers, an issue seen as a hurdle to its future expansion, sources say.

- ADITYA KALRA, NIKUNJ OHRI & ADITI SHAH

The push coincides with Apple’s growing India presence as it diversifies beyond China. Counterpoint Research says iPhone’s share in the Indian market has doubled to 8% since 2022. And while China still accounts for 75% of global iPhone shipments, India’s share has quadrupled to 25% since 2022.