November 30, 2023
Business Featured Latest News

Apple Aims To Raise India Production Share To 25%: Minister

The commerce minister said at a conference on Monday that Apple Inc. wants India to account for up to 25% of its output, up from approximately 5%-7% at the moment as the iPhone maker continues to shift its manufacturing away from China. Piyush Goyal omitted a timeline for when Apple hopes to reach the objective. A request for comment from Apple was not immediately complied with.

“Apple, another success story,” Piyush Goyal said, pitching India as a competitive manufacturing destination. “They are already at about 5-7% of their manufacturing in India. If I am not mistaken, they are targeting to go up to 25% of their manufacturing. They launched the most recent models from India, manufactured in India.”

Based in Cupertino, California Since it started assembling iPhones there in 2017 through Wistron and then with Foxconn, Apple has made a significant investment in the nation in keeping with the push for domestic manufacturing made by the Indian government.

Reuters was informed late last year that Foxconn planned to treble the workforce at its iPhone manufacturing in India over the course of two years.

The electronics and IT minister of India, Ashwini Vaishnaw, tweeted on Monday that Apple’s exports from India reached $1 billion in December.

Apple’s decision to move manufacture elsewhere has been driven by China’s COVID-related lockdowns and restrictions as well as escalating trade and geopolitical tensions between Beijing and Washington.

Picture Courtesy: Google/images are subject to copyright


Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *