India is offering lucrative manufacturing support programs to attract companies like Apple that want to move their supply chains away from China.
China's decades-long dominance in manufacturing Apple's flagship iPhone may be ending as India's alternative base increases production, according to a news report.'The US tech giant now makes as much as 14 percent or about 1 in 7 of its marquee devices from India, people familiar with the matter said,' Bloomberg wrote on April 10. In the fiscal year 2023-24, Apple assembled $14 billion worth of iPhones in India, double the previous year, it said.
For the last two decades, Apple has partnered with Foxconn in China, but the cost of these products has increased in recent years. So profitability is another pressure, on top of geopolitics, which is pushing Apple to seek new manufacturing locations.And the Indian government has been quick to exploit the opportunity.
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