Apple reportedly plans to boost production value significantly in India over the next five years after reaching a new milestone in the past 12 months, according to sources who spoke to Press Trust of India (via Bloomberg).
Apple suppliers allegedly manufactured over $7 billion worth of iPhone units in India over the last fiscal year, according to the report. The company has set an ambitious goal of increasing its production value by five-fold, producing over $40 billion worth of goods in India by 2028. Apple is steadfast in its aim to further cut its reliance on China amid political turmoil with the United States.
Apple has significantly ramped up iPhone production in India this year, as Foxconn reportedly began assembling some iPhone 15 units in the country simultaneously with its other production plants in China. However, the current $7 billion figure is still a drop in the bucket compared to the total iPhone production value worldwide, which reportedly stood at $191 billion last year.
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In addition to expanding iPhone manufacturing, Apple also plans to kick off AirPods production in India for the first time as soon as next year, adds the report. iPads could be next on the line too, as the company could make use of a recent incentives program pushed by the government to begin local manufacturing of tablets and PCs.
Apple’s recent push is also massively beneficial to India’s ambition to grow its electronics manufacturing industry to $300 billion by 2026. India-based Tata Group was rumored to be the latest iPhone contract manufacturer responsible for assembling a minority of iPhone 15 and iPhone 15 Plus units.
