Apple is intensifying its manufacturing operations in India, engaging in advanced talks with Aequs Group and Rayprus Technologies, and initiating preliminary discussions with Dixon Technologies.
What to know: Aequs, known for high-quality toys, consumer goods, and aerospace parts, and Rayprus, a Foxconn subsidiary specializing in camera and lens solutions, are part of Apple’s strategy to diversify its supply chain away from China.
This move aligns with Apple’s broader plan to deepen its footprint in the Indian market, leveraging the country’s growing electronics manufacturing sector.
The longer push: Pankaj Mohindroo, chairman of the India Cellular & Electronics Association (ICEA), speaking to the Economic Times, highlights the transformative potential of global value chain leaders like Apple in developing Indian suppliers, similar to the growth of Chinese electronics giants.
Apple’s push in India, supported by the production-linked incentive (PLI) scheme, includes expanding its network of suppliers and contract manufacturers like Foxconn, Pegatron, and Wistron, now under Tata Electronics. The company aims to produce iPhones worth nearly ₹1 lakh crore in India this fiscal year, with a significant portion for export, marking a substantial shift in its global manufacturing strategy.