00:00Tim I said Tim look we've treated you really good we put up with all the plants that you
00:08built in China for years now you got to build us we're not interested in your building in India
00:14Apple will not go out of India
00:18a thousand dollar iPhone would start costing three thousand dollar the question is are American
00:30consumers willing to pay three thousand dollar for that iPhone
00:48we have Apple as you know it's coming in and I had a little problem with Tim Cook yesterday I said
01:14to him Tim you're my friend I treated you very good you're coming in with 500 billion dollars
01:18but now I hear you're building all over India I don't want you building in India you can build
01:21in India if you want to take care of India because India is the highest one of the highest tariff
01:28nations in the world it's very hard to sell into India and they've offered us a deal where
01:34basically they're willing to literally charge us no tariff so we go from the highest tariff you
01:43couldn't do business in India we're not even a top 30 in India because the tariff is so high
01:48to a point where they have actually told us I assume you too Scott you were working on that
01:54also that there will be no tariff right would you say that's a difference they're the highest and now
01:59they're saying no tariff but I said to Tim I said Tim look we've treated you really good we put up with
02:04all the plants that you built in China for years now you got to build us we're not interested in your
02:11building in India India can take care of themselves they're doing very well you we want you to build
02:16here and if they decide to manufacture in USA as compared to China India Vietnam a thousand dollar
02:29iPhone would start costing three thousand dollar the question is are American consumers willing to pay
02:37three thousand dollar for that iPhone that begs the question where they should manufacture currently in
02:44China eighty percent of Apple's manufacturing happens in China Apple alone has created five million jobs or
02:53supported five million jobs in China there is so much of concentration on China they are not the most
02:59friendly with each other that's Beijing and Washington given all of that environment when Tim cook the CEO of
03:07Apple announces that you do some manufacturing in India all that it would mean it's part of the
03:13manufacturing not entire part of the manufacturing would move away from China to India which means
03:19they are diversifying their supply chain which means some jobs that are already in China would move to
03:24India the manufacturing and jobs are not moving away from USA to India they are moving from China to India
03:35that to part so that they would have diversified supply chain and American company and consumers are
03:41protected right from the hegemony of one country that is not most friendly with them in terms of manufacturing
03:48association Apple will not go out of India world and India knows that we have to wait for some time before we
03:58react to the statements made by USA president as regards Apple and Tim business here they have turned out more
04:07than 22 billion dollars worth of iPhones from India in the last one year Apple have three manufacturing
04:15facilities in India and plans for two more overall it will be the commercial judgment of the Apple whether to
04:26start manufacturing they were doing earlier in China they moved to India partly and I think Apple if they move out of
04:39India they will be in big losses because the tariff restrictions are the regulations which are coming up globally are
04:50subject to change very frequently so we firmly believe as telecom equipment manufacturing association Apple will not go out of India
Comments