New Delhi, May 13: Union Minister and BJP candidate from Thiruvananthapuram, Rajeev Chandrasekhar, on Monday, said that with the production-linked incentive (PLI) scheme now well in place, global tech giants like Apple are deepening their ecosystems by building a network of local vendors, thus lowering its dependence on China.
In a boost to the ‘Make in India’ initiative as well as ramping up exports from the country to the world, companies like Apple are strengthening their supply chains, thus creating lakhs of jobs. “Prime Minister Narendra Modi’s visionary PLI scheme is scaling new heights every day and 25 per cent of all iPhones are to be made in India by 2028,” Chandrasekhar posted on X social media platform. Apple’s Next CEO: John Ternus, Apple’s Senior Vice President of Hardware Engineering, Likely To Replace Tim Cook; Check Other Potential Candidates.
He added that Apple is moving to deepen the ecosystem by building a network of local vendors. “India is fast becoming a significant player in the global electronics and semiconductor value chains,” the minister noted. A continuous thrust on local manufacturing will ensure that India pips China on most electronics exports faster than expected. Apple clocked strong double-digit growth in India in the March quarter this year. Apple OpenAI Deal: Tech Giant Finally Closes Agreement With ChatGPT-Developer To Use AI Technology to Its iPhone and Other Devices, Says Report.
According to industry experts, the country will likely become the tech giant’s third-largest market in the next two to three years. The iPhone maker is slated to grow more than 20 per cent this year in the country. According to Counterpoint Research, Apple shipped nearly 10 million iPhones in the country last year. The Tim Cook-led company is geared up to manufacture over 50 million iPhones in India in years to come.
(The above story first appeared on LatestLY on May 13, 2024 01:38 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
