Apple’s 3 top contract producers are planning to capitalize on 900 million dollars in India in the coming 5 years. This incentive was taken to promote an incentive plan.
These 3 companies will make investments under the scheme as generated by the Indian government to make India self-reliant in technology.
The new plan offers corporations cash inducements on an upsurge in smartphone sales over the coming 5 years. It also aims to assess transformation in terms of exporting smartphone manufacturing hub.
Image from Foxconn
All those companies are going to invest between INR 4000 to 1300 crores.
It is still not clear if all of these investments will target at advancing the production of Apple devices in the country. Also, as per the sources and people from the industries have said that a lot will be focused on intensifying the production of iPhones in India.
All the above-mentioned companies make devices for not only apple but also for other companies as well.
The major benefit is that because of the investment in Indian smartphones, jobs are expected to increase by tens of thousands.
The commitments will also help Apple to broaden the company’s supply chain and consider other countries than China.
Skilled labor is cheaper in India than in any other countries and it will give other markets the to apply strategic skills to expand the size of the Indian market and make the export enormous.
Apple has also recently launched its online store in India and there is going to be a building specifically as a retail store in Mumbai.