Manufacturing gets an Apple boost1 min read . Updated: 29 Sep 2020, 06:31 AM IST
Three suppliers to Apple —Foxconn, Wistron and Pegatron—have committed investments totalling ₹6,500 crore in India over five years, a media report says
The government’s ambitious scheme to boost local electronics manufacturing seems to have started paying dividends.
Reuters reported on Monday that three suppliers to Apple —Foxconn, Wistron and Pegatron—have committed investments totalling ₹6,500 crore in India over five years. The three plan to invest ₹4,000 crore, ₹1,300 crore and ₹1,200 crore, respectively, said the report.
According to two industry executives, the investments will be made towards adding capacities. Foxconn and Wistron already make smartphones for Apple in India, while Pegatron has recently set up a local entity as per a filing with the Registrar of Companies.
Apple has been moving parts of its manufacturing operations to India through these firms. Foxconn makes the iPhone 11 at its Chennai factory while Apple confirmed previously that the 2020 version of the iPhone SE is also being produced in India.
Foxconn, Wistron and Pegatron were among 22 firms that applied for the Centre’s production linked incentive scheme.