Apple boosts India's factory hopes - but a US-China deal could derail plans

Apple boosts India's factory hopes - but a US-China deal could derail plans 8 hours ago Share Save Nikhil Inamdar • @Nik_inamdar BBC News, London Share Save Reuters Apple is shifting most of its production of iPhones headed to the US from China to India Just as India showed flickers of progress toward its long-held dream of becoming the world's factory, Washington and Beijing announced a trade "reset" that could derail Delhi's ambitions to replace China as the global manufacturing hub. Last week, Trump's tariffs on China dropped overnight - from 145% to 30%, vs 27% for India - as the two sides thrashed out an agreement in Switzerland. As a result, there's a chance manufacturing investment that was moving from China to India could either "stall" or "head back", feels Ajay Srivastava of the Delhi-based think tank, Global Trade Research Institute (GTRI). "India's low-cost assembly lines may survive, but value-added growth is in danger." The change in sentiment stands in sharp relief to ... Read full article.