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Apple to increase India's production 5x to $40billion
The Business Guardian
|September 26, 2023
Apple is reportedly planning a significant expansion of its iPhone production in India over the next 4 to 5 years, with a target manufacturing value of around USD 40 billion, representing a five-fold increase. This development comes as Apple has already exceeded the USD 7 billion production mark in the previous financial year.
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While Apple has been manufacturing iPhones in India and has plans to commence AirPods production next year, there are currently no immediate plans to start producing iPads or laptops within the country.
Interestingly, the report indicates that Apple does not intend to participate in IT hardware product-linked incentives (PLI) at this time. However, it suggests that such incentives may be considered at a later stage as part of Apple’s expansion plans in India.
This story is from the September 26, 2023 edition of The Business Guardian.
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