In a significant move towards bolstering its manufacturing footprint, Apple Inc. has outlined an ambitious strategy to amplify production in India by over fivefold within the next half-decade, as reported by PTI, citing undisclosed government sources.
During the preceding fiscal year, the tech giant achieved a remarkable milestone, surpassing the $7 billion mark in production on Indian soil. With eyes set on an even more robust future, the same authoritative source disclosed that Apple aspires to elevate its production value to an impressive $40 billion.
Currently, Apple’s manufacturing endeavors in India primarily revolve around the assembly of iPhones. However, the company has unveiled plans to diversify its production line by introducing the manufacture of AirPods commencing next year, according to the PTI report.
In a groundbreaking move, the Cupertino-based tech behemoth unveiled the iPhone 15, proudly bearing the “Made in India” insignia, concurrently with its worldwide release earlier this month.
Simultaneously, the Indian government is aggressively pursuing an ambitious vision of catapulting its electronics industry to a staggering $300 billion by the year 2026. This endeavor gains momentum from the surge in smartphone production and a global imperative to decentralize supply chains from China. This intent was articulated by India’s junior minister for technology, Rajeev Chandrasekhar, earlier this month.
This stride towards expanding production within India signifies a mutually advantageous endeavor, poised to fortify the market presence of Apple while concurrently aiding India in attaining its formidable economic objectives. The infusion of such considerable investments into India’s burgeoning tech manufacturing sector is anticipated to have far-reaching implications on both the national and international fronts.
Apple’s ambitious plan to quintuple production in India within the next five years signals a significant step towards diversifying its global manufacturing base. This strategic move not only reinforces Apple’s commitment to the Indian market but also aligns with India’s broader economic goals, solidifying the country’s position as a key player in the global electronics industry.
Source: Bloomberg
