Apple's iPhone, as we all know, carry a hefty price tag in India, thanks to the import duty that gets slapped on them. Yes, Apple does manufacture the compact iPhone SE and the iPhone 6s in the country, but you still need to have deep pockets to afford one of the newer and the premium iPhone models in India. But it looks like that's about to change soon.

Wistron's factory application for a new $1 billion factory in India was just approved by the country's IT ministry, which means Apple will soon have an additional manufacturing unit here in India. The new factory will be manufacturing Apple's iPhone 8, in addition to the iPhone SE, 6S, and AirPods.

© Reuters

Additionally, the Foxconn project is also in progress, which could be commissioned to assemble the rest of the iPhone line-up including the new iPhone XS, XS Max and XR. 

This new plant will truly help Apple circumvent the extremely high tax rate, thereby making the iPhones a lot more affordable. By participating in the "Make in India" initiative, Apple is not only helping the Indian economy, but also in improving its market share here.

When asked about the benefits of manufacturing the iPhones in India, IT Minister Ravi Shankar Prasad said, “Openness of India's democratic polity, where creativity is recognised and respected, adds its own incentive. We gave little incentive and you saw how many people came.”

Source: PhoneArena