Apple close to India manufacturing deal - reports

Tech giant Apple is said to be close to a deal to start manufacturing many of its products in India, in an attempt by the US company to boost its sales in the country.

According to the Wall Street Journal, vice president Priya Balasubramaniam led a team of executives in a meeting with government officials in New Delhi to discuss the proposals put forward by the company.

Apple currently has less than 5% of the market share for smartphones in India, with the market gaining rapidly in recent years as the country becomes more technologically developed.

"It's almost a done deal," an Indian government official told the WSJ. "Many of the incentives sought by Apple are workable."

The Cupertino-based company has faced increased competition globallyas the number of smartphone providers increases, many of which offering more affordable alternatives to Apple's flagship iPhone.

Local companies Micromax, Intex and Lava provide stern competition in India, as well as traditional rivals Sasmung, who currently have a leading 22% of the market share.

Prices for the latest iPhone 7 can reach as high as $900, and price is seen by many as a major obstacle for Indians staying away from the brand.

The government previously rejected a request for a waiver of the compulsory 30% local sourcing tax to retail outlets, but it is not clear whether this is a concession that Apple will now be granted in any new deal.