Reuters: Apple to manufacture 25% of its products in India
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Apple plans to increase the share of its production in India to 25%. The agency reports Reuters referring to the statement of the Minister of Commerce of India, which he made on 23 January. Emphasizing the choice of many large companies in the promising Indian market, Piyush Goyal said: “Apple is another success story. They already produce 5-7% of their products in India. If I’m not mistaken, they want to bring this share to 25%. They put their latest models into production in India.”
According to Reuters, Minister Goyal did not specify when Apple intends to implement these goals. Apple itself did not comment on the minister’s statement to the agency.
Meanwhile trend the withdrawal of production from China against the backdrop of a slowdown in the economy and growing tensions with China in recent years has particularly intensified. And among the countries where large IT corporations transfer their Chinese production is India, as well as Vietnam and Taiwan. According to the Minister of Electronics and Information Technology of India, in December, Apple’s exports from India alone amounted to $1 billion. Apple launched its production in India in 2017, choosing Wistron and Foxconn as contractors. At the same time, Foxconn intends to quadruple the number of workers at its iPhone plant in India in the next two years. JP Morgan estimates that by 2025, 25% of Apple products will be made outside of China.
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