India has announced changes to its tax laws that could benefit companies like Apple, allowing foreign firms to fund equipment for contract manufacturers without tax liabilities for five years, until the 2030-2031 tax year.

The move, part of the 2026-2027 budget presented by Finance Minister Nirmala Sitharaman, aims to promote electronics manufacturing in the country.

The exemption applies to capital goods, equipment, or tooling provided in customs-bonded areas primarily used for export production.

The policy is expected to support Apple’s manufacturing expansion in India as the company diversifies away from China, while boosting the country’s electronics sector.

🔗 Source: Reuters

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