Apple to Expand its operations in India: Reports
According to a report by the news agency PTI, the electronics industry follows a process of setting up basic infrastructure and then sourcing various components to integrate into their ecosystem.
The report quotes Piyush Goyal, India’s Minister of Commerce and Industry, stating that Apple is steadily expanding its operations in India, with the government providing support to the company. Apple currently partners with contract manufacturers and partners Foxconn, Wistron, and Pegatron to assemble iPhone models in India.
Goyal mentions that India’s exports of mobile and electronics goods have doubled in the past year, with Apple exporting approximately $5 billion worth of goods from India in the same period. The minister further notes that Apple plans to have 25% of its global production coming out of India in the next four or five years. In FY 2023, India’s iPhone exports crossed Rs 40,000 crore, with overall smartphone exports from India crossing $10 billion for the first time, as per a recent ET Telecom report.
Apple's FIRST retail store in India is opening soon 🇮🇳‼️
It will be located in Mumbai at the Bandra Kurla Complex (BKC) shopping mall. pic.twitter.com/HDw3hMcsTp
— AppleTrack (@appltrack) April 5, 2023
Additionally, Apple has announced the opening of its official stores in Mumbai and Delhi, with the Apple BKC and Apple Saket stores opening on April 18 and 20, respectively. Piyush Goyal mentioned that Apple exported approximately $5 billion worth of goods from India last year, and they aim to produce 25% of their global output from India within the next 4-5 years. On the other hand, JP Morgan analysts predict that Apple will increase its manufacturing capabilities in India, intending to manufacture a quarter of all iPhones by 2025.