Apple Likely To Manufacture 25% Of iPhones In India, Says Piyush Goyal

Piyush Goyal, India's minister of commerce and industry has said that the country's favourable business environment is encouraging global firms to set up shop there. Apple, for example, is looking to expand its manufacturing in India.  

He asserted that the rule of law, open government policies, lack of opaque business models, and absence of covert subsidies are key factors in luring in foreign capital.

Underlining the business success of certain foreign companies, the minister stated, Apple already has 5 to 7 per cent of its manufacturing in our country and is likely to expand by 25 per cent.

He emphasized that the technology company launched and manufactured its most recent models in India.

The minister even expressed optimism toward MSMEs; he said, the Apple manufacturing plant in the country will help thousands of MSMEs flourish in the ecosystem, emerging as mini value chain suppliers to the innovation makers.

Addressing the global economic crisis, he said this year would be a gloomy challenge to the world and mentioned India’s resilience amid global inflation.

He credited the Modi government, for making India the fastest-growing economy.

The minister further highlighted that business that comes to our homeland always succeeds as the country offers competitive business action.

Apple’s manufacturing plan with India will help to showcase the country’s true potential, For now, the iPhone makers get iPhones manufactured by electronics giants, Foxconn, Wistron and Pegatron in India.