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Business News/ Companies / News/  Apple targets raising India production share to up to 25%: Piyush Goyal
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Apple targets raising India production share to up to 25%: Piyush Goyal

Cupertino, California-based Apple has bet big on India since it began iPhone assembly in the country in 2017 via Wistron and later with Foxconn, in line with the Indian government's push for local manufacturing.

Apple Inc wants India to account for up to 25% of its production from about 5% to 7% now. (Mint)Premium
Apple Inc wants India to account for up to 25% of its production from about 5% to 7% now. (Mint)

Apple Inc wants India to account for up to 25% of its production from about 5% to 7% now, Union Commerce Minister Piyush Goyal said on Monday. The iPhone maker continues to move its manufacturing away from China, according to news agency Reuters

“Apple, another success story," Piyush Goyal said, pitching India as a competitive manufacturing destination. 

“They are already at about 5-7% of their manufacturing in India. If I am not mistaken, they are targeting to go up to 25% of their manufacturing. They launched the most recent models from India, manufactured in India," the minister told in a press conference. 

However, he did not say when Apple wants to meet the target and the company did not immediately respond to a request for comment. 

Cupertino, California-based Apple has bet big on India since it began iPhone assembly in the country in 2017 via Wistron and later with Foxconn, in line with the Indian government's push for local manufacturing. 

Last year, sources told Reuters that Foxconn plans to quadruple the workforce at its iPhone factory in India over two years. Information Technology minister Ashwini Vaishnaw on Monday tweeted that Apple's exports from India had hit $1 billion in December. 

China's Covid-19 related lockdowns and restrictions, and rising trade and geopolitical tensions between Beijing and Washington, have influenced Apple's plans to shift production elsewhere. 

JP Morgan analysts estimated last year that a quarter of all Apple products would be made outside China by 2025, from current 5%.

Meanwhile, more than a dozen of Apple Inc.’s Chinese suppliers are receiving initial clearance by India to expand in the country, helping the tech giant’s efforts to diversify its assembly network beyond China.

AirPods and iPhone assembler Luxshare Precision Industry Co. and a unit of lensmaker Sunny Optical Technology Group Co. are among the companies gaining approval, people familiar with the matter said, asking not to be named because the permits aren’t public.

 

(With Reuters inputs)

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Published: 23 Jan 2023, 01:41 PM IST
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