There are lots of implications going on due to Pandemic situations. Most companies are walking out of China due to major issues. Recently, Samsung just shut down its biggest manufacturing hub in China. Samsung also expected to move to India for its production. Lots of more firms are moving to Vietnam and India. Now Apple is also looking for shifting its large part of the production to India. Apple sells almost 1.5 million dollars worth of smartphones in India. But it is not manufactured locally. Apple may soon take advantage and may become the largest exporter in India.
This decision is expected Apple to shell out 5 billion US dollars in the next five years. Apple already have a little part in India but its not the major one that will help them for manufacture iPhone in India. Apple may soon shift its large part of production from China to India through its known contractors Foxconn, Wistron. This will huge opportunity for India as well as Apple to shell out maximum profits. As there are lots of implications and instability in China, lots of companies are already looking out for alternatives. One of the India government official quoted,
We expect Apple to $40 billion worth of smartphones, mostly for exports through its contract manufacturers Wistron and Foxconn, availing the benefits under the production-linked incentive (PLI) scheme.
Government Official Of India
Issues
Though there is no official confirmation from Apple regarding the shift. Some of the sources said that there are problems in the government’s recent PLI scheme. These are basically the incentives provided to foreign companies to attract local smartphone manufacturing. But the government officials said, they are ready for any kind of help and assistance in the process. India’s prime minister Narendra Modi already met the heads of Samsung, Apple, and lots of other firms recently which boosted this process more.
The PLI scheme is announced and applied from April 1. This brings more smartphone firms to invest locally which the government will offer some incentives to those companies. India is trying to get a larger slice of the pie of global exports. Apple has already faced lots of problems in China and which is the reason they are trying to move out. Apple exports almost $185 billion in from China. If the larger part of the manufacturing of Apple goes to India. Apple may become the top exporter of India. Indian government is already expecting the $100 Billion exports rise by 2025 with newly introduced schemes. If companies like Apple will move in India it will be major boost for India economy. Also, a new manufacturing hub for Apple with fewer future problems.
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