[ad_1]
One of Apple’s biggest manufacturing partner is Taiwan-based Foxconn Technology and has been heavily involved in India as well. Now, according to a report by CNBC, Foxconn is set to invest $1.5 billion in India for “operational needs”. This was revealed in Taiwanese security filings.
As per the security filings, the investment was made through Hon Hai Technology India Mega Development, a subsidiary of Foxconn, and is registered in Maharashtra since 2015.Foxconn didn’t comment on the details of the investment plans. However, in the last couple of years, Apple has made advancements in assembling iPhones in India and Foxconn has been a big part of it.
A push for ‘make in India’
Foxconn and Apple have been engaged in a significant partnership in India, reflecting Apple’s efforts to expand its manufacturing capabilities and market presence in the country.
Apple’s decision to expand its manufacturing base in India is driven by several factors, including cost advantages, government incentives, and a growing consumer market. India’s lower labor costs compared to China have been a significant factor in Apple’s decision to shift production to the country. Additionally, the Indian government has offered various incentives, such as tax breaks and subsidies, to attract foreign companies like Apple. Furthermore, India’s large and growing consumer base presents a significant opportunity for Apple to expand its market share.
The partnership between Foxconn and Apple in India primarily revolves around the manufacturing of Apple devices. To comply with the “Make in India” initiative, which encourages foreign companies to produce goods within the country, Apple has been keen on increasing its local production. Foxconn has played a crucial role in this strategy by establishing manufacturing facilities, particularly in the state of Tamil Nadu.
The collaboration is not only significant for Apple’s global supply chain but also aligns with India’s ambitions to become a major hub for electronics manufacturing. It is part of Apple’s broader strategy to diversify its production beyond China, mitigating risks associated with geopolitical tensions and benefiting from lower manufacturing costs in India.
As per the security filings, the investment was made through Hon Hai Technology India Mega Development, a subsidiary of Foxconn, and is registered in Maharashtra since 2015.Foxconn didn’t comment on the details of the investment plans. However, in the last couple of years, Apple has made advancements in assembling iPhones in India and Foxconn has been a big part of it.
A push for ‘make in India’
Foxconn and Apple have been engaged in a significant partnership in India, reflecting Apple’s efforts to expand its manufacturing capabilities and market presence in the country.
Apple’s decision to expand its manufacturing base in India is driven by several factors, including cost advantages, government incentives, and a growing consumer market. India’s lower labor costs compared to China have been a significant factor in Apple’s decision to shift production to the country. Additionally, the Indian government has offered various incentives, such as tax breaks and subsidies, to attract foreign companies like Apple. Furthermore, India’s large and growing consumer base presents a significant opportunity for Apple to expand its market share.
The partnership between Foxconn and Apple in India primarily revolves around the manufacturing of Apple devices. To comply with the “Make in India” initiative, which encourages foreign companies to produce goods within the country, Apple has been keen on increasing its local production. Foxconn has played a crucial role in this strategy by establishing manufacturing facilities, particularly in the state of Tamil Nadu.
The collaboration is not only significant for Apple’s global supply chain but also aligns with India’s ambitions to become a major hub for electronics manufacturing. It is part of Apple’s broader strategy to diversify its production beyond China, mitigating risks associated with geopolitical tensions and benefiting from lower manufacturing costs in India.
[ad_2]
Source link