Site icon EXABYTE NEWS

Apple’s India expansion to create 6,00,000 jobs by fiscal year-end: Report

Apple’s India expansion to create 6,00,000 jobs by fiscal year-end: Report


Tech giant Apple is anticipated to significantly expand its workforce in the Indian market, potentially generating around 600,000 jobs by the conclusion of the fiscal year, reported the Economic Times, citing insider information.

As per the publication, this strategic initiative seems to be aimed at lessening Apple’s reliance on China for its manufacturing processes. By the end of March next year, Apple’s employee count in India is projected to reach approximately 200,000, with women expected to represent about 70 per cent of this workforce.

Currently, Apple’s three primary iPhone manufacturers in India—Foxconn, Wistron, and Pegatron—have already provided 80,872 direct jobs, while additional suppliers have contributed another 84,000 jobs, adds the report.

The report further highlights that Apple has emerged as the most substantial creator of blue-collar employment in India in recent years, with a significant portion of these roles being occupied by women and individuals entering the workforce for the first time. “In total, Apple’s vendors and suppliers have established roughly 165,000 direct jobs since the introduction of the smartphone Production-Linked Incentive (PLI) scheme in 2020,” the report states, referencing the same sources.

Apple’s manufacturing journey in India began in 2021 with the production of iPhones, and since then, the company’s manufacturing footprint in the country has expanded steadily. Notably, standard iPhone models produced in India, such as the iPhone 14 and iPhone 15, are now also being exported to global markets.

The upcoming iPhone 16 Pro could mark a significant shift in Apple’s manufacturing strategy in India. Until now, only standard iPhone models have been produced domestically, while the ‘Pro’ versions have remained exclusive to Chinese production facilities. However, multiple reports suggest that Apple plans to manufacture the forthcoming iPhone 16 Pro and iPhone 16 Pro Max in India for the first time, signifying a major milestone as these would be the first ‘Pro’ models to be both made in India and for the Indian market.

Milestone Alert!
Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.

3.6 Crore Indians visited in a single day choosing us as India’s undisputed platform for General Election Results. Explore the latest updates here!

Catch all theBusiness News, Technology News,Breaking NewsEvents andLatest News Updates on Live Mint. Download TheMint News App to get Daily Market Updates

More
Less

Published: 30 Aug 2024, 10:42 PM IST



Source link

Exit mobile version