In three years, Apple will give 5 lakh jobs to Indians: At now, the company employs 1.5 lakh people; it plans to relocate half of its supply chain from China to India.
Within the next three years, Apple, a phone manufacturer, has the potential to employ five lakh people in India. These positions will be created by suppliers of components and vendors. News outlet PTI was informed by a senior official that "Apple is accelerating appointments in India."
He claimed that 1.5 lakh Indians are currently employed by Apple's suppliers and partners. The largest employer among them is Tata Electronics, which runs two of Apple's production facilities. Apple hasn't made a remark on this front, though.
Considering moving China's supply chain's middle portion to India:
As to media sources, Apple is investing in India as part of an effort to lessen its reliance on China following the Corona pandemic.
Within the next three years, the company intends to shift at least half of its current supply chain from China to India. In light of this, emphasis on Indian suppliers has begun.
In the next four to five years, the corporation hopes to boost its production in India by more than five times, reaching 40 billion US dollars, or around Rs 3.32 lakh crore.
In China, Apple has the largest domestic value addition globally.
The 'China Plus One Policy' is a policy that has been embraced by other global corporations in addition to Apple.
At roughly 28%, Apple currently has the highest domestic value addition in the world in China. In contrast, value-added in India is estimated to be between 11 and 12%, with growth potential to reach 15–18%.
Apple ships its first 10 million units.
For the first time in 2023, Apple ranked #1 in India for revenue generation, according to industry research firm Counter Point Research. In terms of sales, Samsung is still in the lead.
According to Counterpoint, Apple shipped more than 10 million units last year, a first for the company. Apple's iPhone exports from India are expected to rise from US$6.27 billion in 2022–2023 to US$12.1 billion in 2023–2024, indicating a significant surge of nearly 100%, according to trade intelligence platform The Trade Vision.