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Govt plans to extend contract manufacturing tax breaks till 2041
short by Mansi Agarwal / on Monday, 3 August, 2026
The government has proposed extending tax exemptions until 2041 for foreign companies supplying machinery to local contract manufacturers, according to a draft bill seen by Reuters. The move marks a significant win for Apple, which had lobbied for the changes. In February, the government introduced the exemption for contract manufacturing in certain sectors until 2031.
read more at Reuters