Deepak Shenoy, CEO of Capitalmind AMC, has backed US President Donald Trump's recent remarks urging Apple's Tim Cook to stop the expansion of manufacturing in India for devices destined for American consumers. Taking to X, Mr Shenoy questioned the backlash to Trump's comments, saying that there is no need to be "antsy" about the US President telling Apple not to build in India and to build in the US. Instead, he said that India should take a leaf from Trump's book and also push toward local manufacturing.
"Why are we all antsy about Trump telling Tim Cook to not build in India but to build in the US?" Mr Shenoy wrote in a post on X on Thursday evening. "This is exactly what India needs to be telling its own manufacturers too - build here, not in China. Every country's leaders wants jobs for their own people," he explained.
Mr Shenoy's remarks follow a statement from Trump at a business event in Doha, where he criticised Apple CEO Tim Cook for expanding operations in India.
"I had a little problem with Tim Cook yesterday," Trump said of his conversation with the Apple chief. "I said to him, 'Tim, you're my friend. I treated you very good. You're coming in with $500 billion.' But now I hear you're building all over India. I don't want you building in India.'" Trump said.
The US President then stated Apple was "going to be upping their production in the United States", although he did not provide further details to back up the claim.
Also Read | iPhones To Cost Rs 3 Lakh? Experts Say Likely If Made In US, Not India
Trump's comments sparked a wave of criticism, with experts warning that moving the assembly of Apple's top-selling product to its home country would be impractical and costly. They stated that if the USA starts manufacturing iPhones in the US as compared to India, it will cost USD 3,000, which is almost three times the current cost of USD 1,000 per iPhone.
However, despite criticism, the US President hinted at a shift in trade dynamics, claiming that India had offered a trade deal that proposed "no tariffs" for American goods. "It is very hard to sell in India, and they are offering us a deal where basically they are willing to literally charge us no tariffs," he said.
However, in a quick and sharp response, India, without directly naming the US or President Trump, called the remarks "premature". "Any trade deal has to be mutually beneficial. It has to work for both countries. That would be our expectation from any trade deal. Until that is done, any judgement will be premature," Dr S Jaishankar said. The foreign minister said that such negotiations are "complicated" and take time. "Nothing is decided till everything is," he added.
