by: Harry Johnson | copyright: eTurboNews | Tourism News – Tourism Industry News
According to India’s Commerce and Industry Minister Piyush Goyal, Apple Inc., a US multinational technology company headquartered in Cupertino, California, wants India to account for up to 25% of its iPhone production – significantly up from 5% to 7% it currently produces.
Calling Apple “another success story” while talking up the advantages of doing business with the world’s fifth largest economy, Goyal said that American tech giant is looking to scale up its manufacturing in India, as it continues to move its production away from China.
The minister didn’t say exactly when Cupertino-based Apple Inc. wants to meet its target but noted that “they launched the most recent models from India, manufactured in India.”
Another top government official, India’s Information Technology Minister Ashwini Vaishnaw tweeted yesterday that Apple’s exports from India hit $1 billion in December.
Last year, Apple began production of its new flagship iPhone 14 in India. It was the first time world’s largest technology company had produced its latest model smartphone in India so close to its launch.
Apple has been manufacturing iPhones in the South Asian country since 2017, first with Wistron and later with Foxconn, the main assembler of iPhones, in line with the Indian government’s push for local manufacturing.
American tech giant has been looking to diversify production away from China, where it currently assembles the bulk of its iPhones, following major disruptions at the iPhone factory in Zhengzhou, where hundreds of workers joined protests related to severe COVID-19 restrictions.
According to JP Morgan’s estimate published last September, a quarter of all Apple products would be made outside China by 2025.
Last year, there were also reports that Foxconn was planning to quadruple the workforce at its iPhone factory in India over two years.
Apple, Inc. is the world’s largest technology company by revenue (totaling $365.8 billion in 2021) and, as of June 2022, is the world’s biggest company by market capitalization, the fourth-largest personal computer vendor by unit sales and second-largest mobile phone manufacturer. It is one of the Big Five American information technology companies, alongside Alphabet (Google), Amazon, Meta (Facebook), and Microsoft.
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