The Tata Group, an Indian multinational conglomerate, is set to become the first Indian company to manufacture iPhones in India. This exciting development follows the announcement made by India’s Deputy IT Minister, Rajeev Chandrasekhar, that Tata Group will begin producing iPhones for both the local and global markets. The move comes after Wistron’s board approved the sale of their plant in southern India to Tata Group.
Key Takeaway
Tata Group’s agreement to manufacture iPhones in India marks a significant milestone for Indian manufacturing. The partnership between Tata Group and Apple showcases the country’s potential to become a global manufacturing hub. This move also highlights Apple’s growing focus on the Indian market, with the opening of retail outlets and discussions of introducing Apple Pay. With the Indian government’s support and financial incentives, India’s electronics manufacturing industry is expected to experience robust growth in the coming years.
A Milestone Deal for Tata Group
Wistron, one of the three official iPhone manufacturers in India, confirmed the sale of Wistron InfoComm Manufacturing (India) Pvt to Tata Group for a sum of $125 million. The deal, which has been in negotiations for over a year, marks a significant milestone for Tata Group, as they are poised to become the first Indian company to assemble iPhones. Despite declining to comment on the deal, Tata Group’s entry into iPhone manufacturing reflects their commitment to forging strategic partnerships and expanding their presence in the tech industry.
A Growing Focus on India as a Manufacturing Hub
Tata Group’s decision comes at a time when numerous global companies are looking to shift their manufacturing operations to India as a part of the “China + 1” strategy. Google recently announced plans to assemble Pixel smartphones in India, and with India’s lucrative domestic market and government incentives, the country is poised to become a global manufacturing hub. The Indian government has been actively offering financial incentives to attract global companies and has implemented policies that support local manufacturing, including lower taxes and production-linked incentive schemes.
Apple’s Growing Interest in India
Apple, the world’s most valuable technology company, has been increasingly focusing on India, the world’s second-largest smartphone market. Earlier this year, Apple opened its first two retail outlets in India, marking a significant step towards establishing a stronger presence in the country. Additionally, Apple is reportedly in talks with HDFC Bank to introduce Apple Pay in India. The collaboration between Tata Group and Apple aligns with the Indian government’s vision of making India a trusted manufacturing and talent partner for global electronic brands.
