Apple, the manufacturer of this phone, has planned to produce more than 5 crore iPhones in India every year. The implementation of this plan will start in the next two to three years through our partner company Foxconn.
Most of Apple’s iPhones are manufactured by Taiwan-based company Foxconn. Until now, Foxcono’s biggest factories were in China. According to the American press Wall Street Journal, Foxconn wants to transfer its operations from China to India by increasing production in India.
If Apple and Foxconn’s target of iPhone production in India is successful, a quarter of the total iPhone production in the world will come from India within the current decade.
Last month, Foxconn announced a $1.5 billion investment in India. Construction of a Foxconn factory in Bengaluru, the capital of the country’s southern state of Karnataka, began last year; It is expected to start regular production operations there from April 2024.
Foxconn has set an initial target of producing 20 million iPhones per year from this factory. The production level will be further increased in two to three years.
For the past few years, Foxconn has been manufacturing the iPhone and its components under contract with various Indian companies. Last year, this Taiwan-based company made a profit of 7 billion dollars from iPhones and parts manufactured by various Indian companies.
The Union government led by Prime Minister Narendra Modi has set up a fund of $2,600 crore last year to attract foreign investors. This money will be spent on 14 industries over the next 5 years.
Foxconn is making its own factory in Karnataka with the support of that fund.