Apple’s Expansion in India: Boosting Make in India and the Future of Smartphone Production
Apple’s plans to open a second plant in India are set to boost the country’s “Make in India” initiative spearheaded by Prime Minister Narendra Modi. The announcement comes after Foxconn, one of Apple’s main suppliers, signed an agreement to invest in India to manufacture Apple products such as AirPods.
Apple’s plans to open a second plant in India are set to boost the country’s “Make in India” initiative spearheaded by Prime Minister Narendra Modi. The announcement comes after Foxconn, one of Apple’s main suppliers, signed an agreement to invest in India to manufacture Apple products such as AirPods.
The second plant is reportedly being planned near the Bangalore airport and will be used to assemble Apple devices. Another major Apple supplier, Pegatron, is also reportedly in talks to open a second iPhone assembly plant in India.
These moves by Apple and its suppliers come as India’s Cellular & Electronics Association predicts that smartphone exports will cross the $10 billion mark in the FY22-23 period, with Apple leading the way. The report also highlights that India is set to produce 45-50% of iPhones by 2027, putting it on par with China.
Apple’s expansion in India is a significant move for the tech giant as it aims to tap into the country’s large and rapidly growing market. With a population of over 1.3 billion, India is home to a significant number of potential customers for Apple. Additionally, setting up production facilities in India can also help Apple reduce costs and increase profitability.
