Tata Group set to become India’s first iPhone manufacturer

Tata Group set to become India’s first iPhone manufacturer

Daily Current Affairs / Tata Group set to become India’s first iPhone manufacturer

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Category : Business and economics Published on: July 14 2023

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Tata Group is closing in on an agreement to acquire Apple's supplier factory in India.
The factory could be acquired by August and once closed this will be the first time a local company will start assembling iPhones.
Tata Group is looking to takeover a Wistron Corporation factory in Karnataka. The factory has more than 10,000 employees is valued at over $600 million and currently assembles the iPhone 14 model.
Wistron Corp. has committed to shipping $1.8 billion dollar worth of iPhones by the fiscal year ending March 2024 and triple the workforce of the factory by next year.
The production of iPhones by an Indian brand could motivate other global companies to consider manufacturing in India in order to reduce their reliance on China.

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