Friday, 24 March, 2023

Apple suppliers commit $900M in India over 5 years

<p>The Indian govt&rsquo;s PLI scheme is bringing in big money into India as firms look to add local manufacturing capacities on the back of the scheme. Apple&rsquo;s 3 suppliers &ndash; Foxconn, Wistron and Pegatron &ndash; will invest Rs 4000 Cr, Rs 1300 Cr and Rs 1200 Cr respectively, committing $900M in India over the next 5 years. This will make India self-reliant in terms of manufacturing of key items. Mobile and electronics are the biggest non-oil imports in India besides gold.</p>