Friday, March 1, 2024

US fighter jet shot down an unidentified object 40,000 feet high

Vivid News 24: Six days after the downing...

Sidharth Malhotra and Kiara Advani host reception party in Delhi

Vivid News 24: On social media, previously unreleased...

Apple aims to increase its production share in India to 25%

Vivid News 24: According to Union Commerce Minister Piyush Goyal, Apple Inc. wants India to produce up to 25% of its products instead of just 5% to 7% as it does currently. According to Reuters, the iPhone’s manufacturer is continuing to move its production outside of China.

Piyush Goyal touted Apple as “another success story,” pushing India as a potential hub for manufacturing. Five to seven percent of their items are already made in India. If I’m not mistaken, they want to increase their manufacturing by 25%. They debuted the most modern models made in India, according to the minister, who spoke at a press briefing.

He didn’t give a deadline for Apple to reach its objective, and the company didn’t react right away to a request for comment. 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.

Also Read “… Feel Free To Work From Home Today” Sundar Pichai Justifies Layoffs

According to sources who spoke to Reuters last year, Foxconn plans to triple the workforce at its iPhone production facility in India over the next two years. Ashwini Vaishnaw, the minister of information technology, tweeted on Monday that Apple’s shipments to India reached $1 billion in December.

Apple decided to move manufacturing overseas as a result of the Covid-19-related lockdowns and restrictions in China as well as the escalating trade and geopolitical tensions between Beijing and Washington.

JP Morgan analysts predicted that by 2025, up from the current 5%, a quarter of all Apple products would be produced outside of China. While this is going on, India has granted permission for more than a dozen of Apple Inc.’s Chinese suppliers to expand, helping the tech giant achieve its objective of diversifying its assembly network outside of China.

According to sources with knowledge of the issue who asked to remain anonymous since the permits are confidential, organizations obtaining approval include a division of lens producer Sunny Optical Technology Group Co. and the AirPods and iPhone assembly company Luxshare Precision Industry Co.

Also Read Gold prices in India hit a record high of over ₹56,000

Vivid News-24 Desk
Vivid News-24 Deskhttps://vividnews24.com
Vivid News-24 News India's new growing news website. Which provides some specific categories of news, top world news, entertainment, sports, new technology, politics etc.
Latest news
Related news

LEAVE A REPLY

Please enter your comment!
Please enter your name here