How Apple will benefit from 5-yr tax holiday on iPhone manufacturing push in India
In her Budget 2026 speech delivered on February 1, Finance Minister Nirmala Sitharaman offered a significant policy win for global tech giants like Apple. International companies can now provide machinery to local contract manufacturers for up to five years without incurring additional tax liabilities.
Apple has been expanding its presence in India over the past few years as it looks to reduce its dependence on China. According to Counterpoint Research, the iPhone’s share of the Indian smartphone market has doubled to 8% since 2022. While China still accounts for 75% of global iPhone shipments, India’s share has jumped four times to 25% since 2022.
