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Home Industry Technology

Indian Government asks Apple to invest $50 billion/year in India

By: APAC Media

by APAC Media
January 3, 2022
in Technology
Reading Time: 2 mins read
Indian Government asks Apple to invest $50 billion/year in India
Summarize with:

Apple has been approached by the Central government t of India to focus more on the ‘Make in India’ initiative. The center has proposed that the company increase its annual production output worth $50 billion over the next 5-6 years. The production would include expanding, making ‘Made in India’ iPhones, Macbooks, iPads, air pods, and watches.

Sources said, Foxconn and Wistron are already manufacturing for Apple in ndia at a top rate, though the volumes are “near negligible”, when compared to what they manufacture in China. The company only makes the iPhone in India currently (the latest iPhone 13 is still not made here), a part of which is also exported, though other products from its portfolio are not made here and simply imported.

The manufacturing potential surely looks large for India. Apple’s global sales revenue in the company’s fiscal year, which ended September 25, 2021, stood at a whopping $365 billion, of which $191 billion came from iPhones, while around $67 billion came from Macbooks and iPads. Wearables such as air pods and watch turned in another $38 billion.

Priya Balasubramaniam, vice president of Product Operations,Apple said , the company is expanding its business in India to expand its presence by generating 1 million jobs across India and Apple has been operating in India for over two decades.

Since then, we’ve expanded with facilities here and in Chennai, manufacturing several iPhone models for the domestic market and export. Along with our supply chain, we are investing significantly in India to develop our operations, expand our reach, and engage with more local suppliers,” she added.

The iPhone SE and iPhone 11, and iPhone 12 are the ones that were assembled in India. The top production partners of Apple, namely the Taiwanese trio of Foxconn, Wistron, and Pegatron, have set up their base in the country. Apple’s manufacturing in the country is still a minute compared to its global manufacturing.

Summarize with:
Tags: Apple
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