look news india
Leading US tech company Apple Inc is going to set up its fourth iPhone assembly unit in India. The plant is being built by Tata Electronics and production is likely to start at the plant from November. According to the report, the plant is being set up in Hosur, Tamil Nadu and it will be Tata Electronics' second iPhone assembly plant. Earlier, the company had bought a factory of Taiwanese EMS company Wistron in neighboring Karnataka, where iPhones are assembled.
The report says that this plant is spread over 250 acres and the company is preparing to launch iPhone from here. Tata had set up a component unit in this plant 3 years ago. The report says that Tata Electronics may invest Rs 6,000 crore in this plant. It has also invested the same amount in component units.
Moneycontrol could not independently confirm this report. At the time of writing the news, there was no statement from Tata Electronics and Apple on this report.
These plants will employ over 50,000 workers, most of whom will be women. The assembly work alone will employ 35,000-40,000 workers, making it one of the largest facilities in India.
Let us tell you that in view of the geopolitical tension between China and America, Apple is trying to reduce its dependence on China. For this, it is setting up many of its plants outside China to diversify its supply chain.
Three companies in India make iPhones on contract for Apple. These include Tata, Pegatron and Foxconn. Apple's focus has increased on India and Tata can play an important role here. Analysts estimate that this year Tata's share in total iPhone shipments will increase from 12-14 percent last year to 20-25 percent.
Apple started production in India only 4 years ago, but now it is growing rapidly. The central government's production-related incentive scheme has also played an important role in this. Apple aims to shift about 10 percent of its total global iPhone production capacity to India by FY 2026. The company's fourth factory will play an important role in achieving this goal.
