India’s commerce minister claims that Apple plans to increase the proportion of iPhones assembled in India to 25%

Goyal told a conference that the world’s largest tech giant by market capitalization already manufactures about 5-7 percent of its products in India. “If I remember correctly, their goal is to increase that to 25 percent.”

Financial Associated Press, January 23 (Editor Zhao Hao) Based on multiple media reports, Indian Minister of Commerce and Industry Piyush Goyal said that Apple is seeking to produce 25% of iPhones in India.

Previously, India’s latest export data showed that in December last year, Apple became the first company in India whose monthly export value of smartphones exceeded the “1 billion US dollars” milestone. It should be pointed out that Apple only surpassed Samsung as India’s largest smartphone exporter in November last year.

On Monday (January 23), local time, Goyal reposted the report on social media. He also told a conference on the same day that the world’s largest technology giant by market value already manufactures about 5-7% of its products in India.

“If I remember correctly, their goal is to increase this ratio to 25%. Most of their new products are from India and manufactured in India,” Goyal said, Apple will be in the world’s No. Five major economies write “another success story”.

In September last year, JPMorgan analysts led by Gokul Hariharan said Apple could produce a quarter of its iPhones in India by 2025. “In the medium to long term, we also expect Apple to qualify as a local manufacturing supplier in India,” they said at the time.

Apple has produced iPhones in India since 2017, but usually with older models. However, last year, Apple announced that it would assemble and produce its flagship iPhone 14 in India for the first time. The news was announced less than three weeks after Apple released the iPhone 14.

As Apple’s main assembler in India, two Indian government sources revealed in November last year that Foxconn plans to hire 53,000 new workers in the next two years, tripling the number of employees in its southern Indian factory to 70,000.

The Financial Associated Press reported last week that it has been reported that more than a dozen Chinese suppliers of Apple have obtained preliminary licenses from India to expand their business in India. Among them, Luxshare Precision and a subsidiary of Sunny Optical Technology Co., Ltd. are listed.

In recent years, Indian Prime Minister Modi has made developing Indian manufacturing a national priority, and Apple has been playing a central role in this regard.

While Apple only has a 5 percent share of the smartphone market in India, Apple CEO Tim Cook has long seen it as a potential growth area.