Tata Group, one of India’s largest conglomerates, has announced that it will start making Apple iPhones in India for domestic and global markets within two and a half years. The group has acquired the operations of Apple supplier Wistron Corp, which had faced labour unrest at its plant in Karnataka last year. The deal is worth about USD 125 million, according to a company statement.
Government supports electronics manufacturing
Electronics and Technology Minister Rajeev Chandrasekhar welcomed the Tata-Wistron deal and said that the government stands fully in support of the growth of global Indian electronics companies. He also said that the government will support global electronic brands that want to make India their trusted manufacturing and talent partner. He added that Prime Minister Narendra Modi’s goal is to make India a global electronics power.
India becomes a hub for smartphone production
India has become increasingly important to Apple’s diversification drive, as the company looks beyond China amid a Washington-Beijing trade war. Prime Minister Modi’s financial incentives to boost local manufacturing have also helped India attract more smartphone makers and suppliers. Chandrasekhar said that Modi’s visionary Production Linked Incentive (PLI) scheme has already propelled India into becoming a trusted and major hub for smartphone manufacturing and exports.