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Cupertino, California-based Apple, is keen to assemble its signature iPhones in India, one of the world's fastest growing smartphone markets where it still has only a tiny market share.

Apple has demanded a series of tax and sourcing concessions from India, before it begins to assemble iPhones in the country, Reuters reported last week. Sources familiar with the matter had told Reuters that Apple executives were supposed to meet with officials from the industry, information technology and finance departments on Wednesday to discuss their demands.

"We've been working hard to develop our operations in India," Apple said in a brief statement. "We appreciate the constructive and open dialogue we've had with government about further expanding our local operations."

(Reporting by Sankalp Phartiyal; Editing by Euan Rocha)