Apple is one of the most loved technology brands in India and its products are seen as a status symbol in our country. One reason that stops the middle-class people in India to buy Apple iPhones is their price. Interestingly, iPhones are not that costly in other countries like USA, China, and Japan and there is a big difference if we convert the price of iPhones in other countries to Indian currency.
Apple sells its products with a huge network of retail stores in India rather than their official stores and this is because of India’s Foreign Direct Investment(FDI) policy that says that any brand has to source 30 percent of its components locally if it wants to open manufacturing units in the country. Apple collects its components from different suppliers that are produced in 28 countries.
We know that for every product India imports a fixed amount of custom duty is imposed on products. On an average, the total amount of duties on Apple products paid to the government is 11.43% which includes shipping and handling charges also.
iPhone accessories such as earphones, chargers come under different categories and Value Added Tax(VAT) is applied on these items which is around 12.5%.