Apple Plans To Scale Up Domestic Component Manufacturing In India

New Delhi, Aug 23 (KNN) Apple in a meeting with the Finance Ministry, notified the government of its plan to scale up its domestic component manufacturing in India, a top government official said.

"However, the government is not receptive to any fiscal, i.e., tax incentives. Apple wants to indigenize faster. They are eager to increase the domestic component manufacturing base in India and are actively looking at it," the official told Moneycontrol.

The meeting came at a time when Apple is betting on India to become a key manufacturing hub in order to diversify its manufacturing capabilities beyond China.

At present, the US company makes almost 7 percent of its iPhones in India through expanding partnerships.

Last month, Apple India MD Virat Bhatia met senior officials from the Finance Ministry and made a presentation on its current manufacturing, supply chains, exports, and the company’s participation in India’s electronics sector.

Apple began manufacturing iPhones in India in 2017, and since then, the company has worked with suppliers to assemble iPhone models and produce a growing number of components.

The iPhone maker, on April 18, 2023, opened its first store in Mumbai and the second one in New Delhi on April 20, 2023.  (KNN Bureau)