Apple is heavily dependent on China for manufacturing. In an effort to reduce this dependence, the Cupertino-based company is planning to expand manufacturing to India - on a significant scale.
The Indian Economic Times reports that Apple is planning to expand production in India. The iPhone manufacturer wants to produce smartphones worth over 40 billion US dollars in India through its manufacturing partners Wistron and Foxconn, thus further reducing its dependence on China. publication:
Several meetings between Apple's executives and senior government officials in recent months have paved the way for the iPhone maker to explore the possibility of shifting nearly a fifth of its production capacity from China to India and increasing its local manufacturing revenue through its contract manufacturers to around $40 billion over the next five years, officials familiar with the matter say.
Indian funding program attracts Apple
A government official is said to have told India's Economic Times that the move and the associated decision have to do with India's production-linked incentive (PLI) scheme. The PLI is intended to encourage local manufacturing of electronic products, especially smartphones. Companies that want to be included in the program must gradually produce mobile phones worth at least $10 billion between 2020 and 2025. However, there are also annual targets that must be met. So it should come as no surprise that Apple is also interested. (Photo by Dezay / Bigstockphoto)
