Apple wants India to account for up to 25% of its production from about 5% to 7% today, Trade and Industry Minister Piyush Goyal told a conference on Monday, as the iPhone maker continues to shift production. export out of China.
“Apple, another success story,” said Piyush Goyal, touting India as a competitive manufacturing destination. “They’ve got around 5-7% of their production in India. If I’m not mistaken, they’re targeting up to 25% of their production. They’ve launched the latest models from India. , made in India.”
Goyal doesn’t say when Apple want to achieve the goal. Apple did not immediately respond to a request for comment.
Apple based in Cupertino, California has been betting big on India since it started Iphone assembled in the country in 2017 through Wistron and later with Foxconn, in line with the Indian government’s push for local manufacturing.
Foxconn plans to quadruple the workforce at its iPhone factory in India within two years, sources told Reuters late last year.
Ashwini Vaishnaw, India’s minister of information technology and electronics, tweeted on Monday that Apple’s exports from India hit $1 billion (about Rs 8,141 crore) in December.
China’s COVID-related lockdowns and restrictions, as well as rising trade and geopolitical tensions between Beijing and Washington, have affected Apple’s plans to move production elsewhere.
JPMorgan analysts last year estimated that a quarter of all Apple products will be manufactured outside of China by 2025, up from 5% currently.
