Apple's Impact on India's Mobile Manufacturing Industry: Job Growth, Investment, and Expansion

India’s ascent as a global mobile manufacturing hub received a significant boost recently, as Union Railways and IT Minister Ashwini Vaishnaw lauded the Apple ecosystem for its pivotal role in driving employment within the industry. Over the past decade, mobile manufacturing has emerged as a crucial contributor to job creation, aligning seamlessly with the Indian government’s vision to position the country as a manufacturing powerhouse on the global stage.

Apple’s Impact on Employment

Minister Vaishnaw revealed that the Apple ecosystem alone has provided jobs to over 1.5 lakh individuals, showcasing promising growth trajectories for the future. This substantial employment growth underscores the confidence placed in Prime Minister Narendra Modi’s vision to transform India into a premier global manufacturing hub.

Expansion in Manufacturing

The surge in employment opportunities is further evidenced by Apple’s impending hiring spree in iPhone factories across India. During the peak period from June to September, these factories are anticipated to directly employ more than 10,000 individuals, significantly boosting the local workforce.

Apple’s Investment Efforts

Apple’s commitment to India’s manufacturing landscape is evident through intensified investment efforts. The tech giant is currently engaged in advanced discussions with Tata Group’s Titan Company and Murugappa Group to facilitate the assembly of sub-components for phone camera modules. Tata Group’s acquisition of Taiwanese electronics manufacturer Wistron’s India operations for $125 million last year further demonstrates the burgeoning partnerships in the sector. Moreover, reports suggest that Tata Group is eyeing the acquisition of Pegatron’s iPhone manufacturing facility near Chennai, signaling a concerted effort to bolster domestic production.

Strategic Production Diversification

With a target to manufacture over 50 million iPhones annually in India, Apple is strategically diversifying its production footprint away from China. This strategic shift aligns with broader trends, reflecting India’s unparalleled success story in mobile phone production growth over the past decade.

Remarkable Sector Performance

The fiscal year 2024 witnessed iPhone production in India exceeding Rs 1 lakh crore, with 70 percent of the output earmarked for exports. This remarkable milestone underscores the robust performance of the sector, with the total market value of iPhones produced in India estimated at Rs 1.6 lakh crore. This achievement cements India’s position as a key player in the global mobile manufacturing arena, with Apple’s ecosystem playing a pivotal role in driving job growth and economic prosperity.

Via @ https://www.businesstoday.in/technology/news/story/apple-ecosystem-leads-job-creation-as-india-emerges-into-a-global-mobile-manufacturing-hub-ashwini-vaishnaw-426667-2024-04-24