The federal government’s formidable scheme to spice up native electronics manufacturing appears to have began paying dividends.
Reuters reported on Monday that three suppliers to Apple —Foxconn, Wistron and Pegatron—have dedicated investments totalling Rs 6,500 crore in India over 5 years. The three plan to speculate Rs four,000 crore, Rs 1,300 crore and Rs 1,200 crore, respectively, mentioned the report.
In accordance with two business executives, the investments can be made in direction of including capacities. Foxconn and Wistron already make smartphones for Apple in India, whereas Pegatron has lately arrange an area entity as per a submitting with the Registrar of Firms.
Apple has been transferring components of its manufacturing operations to India by way of these companies. Foxconn makes the iPhone 11 at its Chennai manufacturing unit whereas Apple confirmed beforehand that the 2020 model of the iPhone SE can also be being produced in India.