Apple invest $900 million in india

Delhi 30 September : The first few months of this pandemic taught global manufacturers a valuable lesson a global supply chain dominated by china is not .

a safe bet the exodus of companies from china has opened the door for countries like india now a new report claims that three top apple suppliers are planning to invest 900 million dollars in india .

it is being described as a major boost for india's domestic smartphone industry this report has more the wuhan virus pandemic has revealed how brutal .

a china-led global supply chain can be in the face of major disruptions manufacturers are looking for more stable options and india is among the top contenders three companies that manufacture for apple are looking to step up their investments in india 900 million dollars ,

that is how much foxconn wistron and pegatron are expected to invest over the next five years the companies are looking to avail india's new incentive scheme that aims to transform the country into a manufacturing hub if companies successfully boost sales of locally made smartphones they are rewarded with cash incentives.

 here's how much the three companies are investing foxconn 540 million dollars westron 176 million and pegatron 162 million the investments will focus on expanding iphone production in india.

 right now vistron assembles roughly 200 000 iphones every month by the end of 2020 this number is expected to reach 400 000 combined together the investments will create 10 000 jobs in india it is no surprise that apple is diversifying its supply chain beyond china with america's trade war.

 showing no signs of waning partnering with china-based suppliers poses a huge risk plus they save taxes by making in india companies will save millions of dollars in import levies businesses have learned their lesson,

 from the wuhan virus pandemic china's opaque political and economic system guarantees that such disruptions will happen again and to avoid this manufacturers are keen on exiting the chinese market multiple countries including india are looking to make china's loss their gain the cash incentive scheme has already attracted the likes of apple samsung and lg.

 it offers a great opportunity for india to go from being a smartphone users hub to a smartphone manufacturing hub.