Apple Inc wants India to account for up to 25 per cent of its production from about 5-7pc now, the country’s trade minister told a conference on Monday, as the iPhone maker continues to move its manufacturing away from China.

“Apple, another success story,” Piyush Goyal said, pitching India as a competitive manufacturing destination. “They are already at about 5-7pc of their manufacturing in India. If I am not mistaken, they are targeting to go up to 25pc of their manufacturing. They launched the most recent models from India, manufactured in India.”

Goyal did not say when Apple wants to meet the target. Apple did not immediately respond to a request for comment.

Cupertino, California-based Apple has bet big on India since it began iPhone assembly in the country in 2017 via Wistron and later with Foxconn, in line with the Indian government’s push for local manufacturing.

Foxconn plans to quadruple the workforce at its iPhone factory in India over two years, sources told Reuters late last year.

Ashwini Vaishnaw, India’s electronics and information technology minister, tweeted on Monday that Apple’s exports from India had hit $1 billion in December.

China’s Covid-related lockdowns and restrictions, and rising trade and geopolitical tensions between Beijing and Washington, have influenced Apple’s plans to shift production elsewhere.

J.P.Morgan analysts estimated last year that a quarter of all Apple products would be made outside China by 2025, from 5pc currently.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

On writing

On writing

There is no ceremony or ritual that marks any person as a writer except the simple yet unimaginably significant act of starting to write.

Editorial

A way forward
Updated 17 Jul, 2024

A way forward

Before political leaders inflict more damage, they must give talks a chance.
Export delusions
Updated 18 Jul, 2024

Export delusions

Plummeting exports as a ratio of GDP is one of the major reasons driving the current economic slowdown and the balance-of-payments crisis.
Diversity in UK politics
17 Jul, 2024

Diversity in UK politics

THE recent UK elections have ushered in the most diverse parliament in the nation’s history. Under the leadership...
Banning PTI
Updated 16 Jul, 2024

Banning PTI

It appears that the govt and its backers within the establishment have still not realised that they are in uncharted territory.
Nato at 75
16 Jul, 2024

Nato at 75

EMERGING from the ashes of World War II, and locked in confrontation with the Soviet-led Communist bloc for over ...
Non-stop massacres
16 Jul, 2024

Non-stop massacres

Netanyahu is cunningly pretending to talk peace while mercilessly pounding Gaza. What is clear is that a return to pre-Oct 7 status quo is impossible.