Introduction
In a strategic move that underscores its commitment to the Indian market, tech giant Apple is poised to significantly ramp up its production in India.
According to government sources, Apple plans to scale its operations through vendors. It aims to potentially employ 500,000 individuals from India over the next three years.
Job Creation: Over the next 3 years, Apple plans to hire an additional 500,000 people in India through its vendors and suppliers. This is a major jump from the current figure of 1.5 lakh.
Production Ramp Up: This hiring surge is linked to Apple’s plans to significantly increase its production capacity in India. They aim to multiply production by five times within the next 4-5 years.
Market Growth: Apple’s expansion in India comes as they’ve captured the top spot in the Indian smartphone market by revenue in 2023.pen_spark
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Apple Ambitious Production Goals for India:
The Cupertino-based company plans to expand production five-fold, aiming for USD 40 billion in revenue in the next four to five years. This ambitious goal follows Apple’s record-breaking revenue in India in 2023, as reported by Counterpoint Research.
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Apple Remarkable Performance in Exports from India:
One of the standout achievements for Apple in India has been its remarkable performance in iPhone exports. Not only did the company surpass the shipment of 10 million units for the first time in a year, but it also claimed the top spot in terms of revenue.
The Trade Vision research showed iPhone exports from India doubled, rising from USD 6.27 billion to USD 12.1 billion in the fiscal year 2023-24, nearly a 100% increase.
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Commitment to Sustainability:
Beyond economic growth, Apple is also prioritizing environmental sustainability in the Indian market. The company recently announced a collaboration with Mumbai-based solar energy solutions provider, CleanMax, signaling its commitment to a greener future.
They plan to invest in six rooftop solar projects in India, generating a combined output of 14.4 megawatts. These installations will power Apple’s offices and stores, reinforcing its commitment to reducing its carbon footprint and supporting India’s renewable energy goals.
Read More: Apple to Invest Over $250 Million in Expanding Singapore Campus – techovedas
Conclusion:
Apple’s expansion in India brings economic benefits like job creation and revenue growth while highlighting its commitment to sustainability. As it scales operations, Apple’s influence extends beyond technology, leaving a lasting impact on the economy and environment.
