Apple to Invest $1 Billion in India to Ramp Up Manufacturing

10

Apple, in an attempt to move out its primary production in China, is ramping up its manufacturing units in India with over $1 Billion investment.

A report from The Times of India states that Apple will invest $1 billion in India through its “partners”. Foxconn is the main investment partner here, but others will join soon. Apple also plans to export “Assembled in India” iPhones to other countries.

Foxconn, Taiwan’s contract manufacturing behemoth and the biggest production partner for Apple globally, will be investment partner for the iPhone maker’s latest push. Its factory in Chennai will be used to manufacture products for Apple’s global markets. Also, a host of component suppliers to the company will be making investments in the region for the local push.

Apple is also looking forward to opening the country’s first brick-and-mortar retail store, but also said that it will “take some time.” The news came after the fact that the Government of India eased rules on foreign companies looking to establish a retail presence.

Apple also confirmed the report.

We love our customers in India and we’re eager to serve them online and in-store with the same experience and care that Apple customers around the world enjoy. We appreciate the support and hard work by Prime Minister Modi and his team to make this possible, and we look forward to one day welcoming customers to India’s first Apple retail store. It will take us some time to get our plans under way, and we’ll have more to announce at a future date.

Even though Apple wants its retail presence really soon in India, it is surely not going to happen overnight. Modern Apple Stores are beyond just retail stores. And it takes a lot of planning to open one. The statement clarifies that the urgency to expand in India won’t compromise location choice and design.

Keep following us for more details.

Comments