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January 2024

Miscellanea

By Jhankhana Thakkar | Chirag Chauhan, Chartered Accountants
Reading Time 13 mins

1. TECHNOLOGY

1 Apple set to open its fourth iPhone factory in India in a China+1 strategy

Apple is set to get its fourth manufacturing facility in India, with the Tata Group reportedly planning a new factory that will manufacture iPhones, a move that aligns with Apple’s strategy of accelerating its supply chain in India. The new factory, according to a Bloomberg report that cites unnamed sources, is expected to have 20 assembly lines and employ 50,000 staffers within two years of being operational.

The sources further said that the group plans to make the factory operational in the next 12 to 18 months. “India is important to many big tech companies for several reasons — the human capital, relatively cheap labor pool, a maturing supply chain, and the country’s pragmatism,” said Prachir Singh, senior analyst at Counterpoint Research.

In October, the Tata Group acquired an iPhone assembly plant, located in Karnataka, from Taiwanese manufacturing firm Wistron for $125 million. The acquisition is still pending regulatory approval.Queries sent to the Tata Group and Apple went unanswered.

These developments come at a time when Apple is looking to scale

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