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.
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.