Industry executives and analysts say the Cupertino-based giant’s manufacturing in India has seen his three contractors – Foxconn, Pegatron and Wistron – expand production and the government pay him 41,000 kroner. exports are expected to expand, supported by the production of Linked Incentive Scheme (PLI). Apple is pushing to move more iPhone production to India amid geopolitical tensions between China and the US.
India is poised to become a major iPhone manufacturing hub as US smartphone giant Apple seeks to diversify its manufacturing sector away from China. Industry leaders and analysts expect the value of home-made iPhones to increase from 5% today to more than one-fifth over the next three to four years.
The company is said to have accelerated its plans to exit China after a Covid-induced lockdown halted production at Foxconn’s facilities in the country. Foxconn’s factory in Zhengzhou, China is the world’s largest iPhone manufacturing unit. Apple did not respond to his email inquiry from ET. Last month, Apple analyst Ming-Chi Kuo tweeted that Foxconn would accelerate capacity expansion at its India factory.
“(Transitioning from China to India) is still a work in progress,” said one of the people. According to a JP Morgan report (September 21, 2022), Apple plans to move 25% of its iPhone production to India by 2025, diversifying its manufacturing base, which currently relies heavily on China. “Our ability to attract global value chains (GVCs) in electronics manufacturing has been a factor in our policies such as PLI as well as favorable geopolitics.
“As a result, in India, he expects Foxconn-manufactured iPhones to grow at least 150% year-on-year in 2023, with a medium to long-term goal of shipping 40-45% of his iPhones from India. (against India). It’s now 4.%),” Kuo said. ET reported in his November 5 issue that he estimated Kuo. Two of his people familiar with the matter say the estimate is unrealistic, with a more realistic estimate of around 20%.
“The key to our success is maintaining competitiveness through tariffs, preparations for the construction of large-scale factories and labor reforms that accompany it, as well as maintaining a high level of investment sentiment,” said Mr. Mohindroo. (ICEA). “It’s a long journey,” he added. Apple he is a member of the ICEA.