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India’s worth for Apple is indeed growing. According to an anonymous Indian government official, the Cupertino giant wants its production to reach around $40 billion.
“Apple has plans to increase production in India to over $40 billion in the next four to five years. It has crossed $7 billion in the last fiscal,” the official told Indian business and financial news outlet BQPrime.
The plan is reportedly expected to happen in the next four to five years. Unfortunately, this is limited to iPhone production in the country, with the source claiming that Apple still has no plans to expand this to iPads and MacBooks.
“They don’t have any plans to participate in IT hardware PLI. They may come at a later stage but as of now their focus is to scale up existing production levels,” the officer said.
Despite that, the iPhone production increase plan reflects Apple’s growing interest in India, which is expected to aid Apple in becoming less reliant on China.
In the past month, various partners of Apple have started their investments in the country in order to build more plants and sites. One includes Foxconn, which is reportedly set to invest $600 million for two projects in the Southern Indian state. Specifically, the company will allot the $350 million for a plant dedicated to iPhone case component production, while the $250 million will be used for a semiconductor manufacturing equipment project. According to Foxconn’s estimates, the two projects could generate up to 13,000 jobs in the place.
Apple’s top representatives also reportedly met Indian Finance Ministry officials to discuss the future of the business in the country. No specific details were shared, but it was revealed that one of the key points in the discussion pointed to “how India’s policies could be aligned to support this initiative” involving iPhone manufacturing. Unsurprisingly, the government is reportedly in “a positive cooperation” about the idea of boosting the manufacturing of smartphones in the country.