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Apple set to invest $1 billion in India, says report

Apple set to invest $1 billion in India, says report

Apple set to invest $1 billion in India, says report
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By CNBC-TV18 Sept 17, 2019 11:15:12 AM IST (Published)

The tech giant is looking beyond China for a manufacturing hub in order to counter the challenges emerging out of the ongoing trade war between Beijing and Washington.

Tech giant Apple is all set to make investments of around $1 billion in India, reported The Times of India. The move, the report said, comes as the tech giant plans to commence export of ‘Made in India’ iPhones across the globe.

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“Apple will be investing $1 billion in India through its partners. They have said the production will be used for meeting the demand for its products across the global market,” an official source was quoted as saying in the report.
The tech giant is looking beyond China for a manufacturing hub in order to counter the challenges emerging out of the ongoing trade war between Beijing and Washington.
According to the report, the investment drive in the country for Apple will be led by Foxconn, Taiwan’s contract manufacturing behemoth and the biggest production partner of the tech giant. The tech giant will use Foxconn’s Chennai plant to manufacture products that will be sold across the globe, said the report.
While no comments were available from Apple regarding the new push in the report, the move to use India as a manufacturing hub is not a new plan for the US firm. The firm had earlier used the Bangalore factory of another manufacturing partner i.e. Wistron for production of certain models.
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