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.

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

Opinion

Editorial

Police Lines bombing
Updated 31 Jan, 2023

Police Lines bombing

Where the menace of terrorism is concerned, the government and opposition need to close ranks and put up a united front.
Oil price hike
31 Jan, 2023

Oil price hike

THE record single-day increase in petrol prices, preceded by massive currency depreciation, signifies the ...
Babar Azam’s award
31 Jan, 2023

Babar Azam’s award

BABAR Azam might not have lifted many trophies as Pakistan’s all-format captain in the last year but the star...
Blatant Islamophobia
Updated 30 Jan, 2023

Blatant Islamophobia

Muslim extremists and terrorist outfits are emboldened by hateful acts.
Modern slavery
30 Jan, 2023

Modern slavery

MODERN slavery is a wide-ranging term that can encompass a multitude of scenarios. Common to all of them, however, ...
Remarkable Sania
30 Jan, 2023

Remarkable Sania

BRINGING to a close a career in which she smashed stereotypes, Sania Mirza delivered almost the perfect ending in ...