(Bloomberg) -- An Apple Inc. vendor is looking at shifting six production lines to India from China which may result in $5 billion of iPhone exports from the South Asian nation, The Times of India reported, citing people familiar it didn't identify.
The establishment of the facility will create about 55,000 jobs over a year or so, according to the newspaper, which did not name the Apple vendor. It will also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported.
Samsung Electronics Co. and Apple's assembly partners are among 22 companies that have pledged 110 billion rupees ($1.5 billion) of investments to set up mobile phone manufacturing units in India. Foxconn Technology Group, Wistron Corp. and Pegatron Corp., all iPhone assemblers, are among companies picked to make smartphones under a production-linked incentive plan, Ravi Shankar Prasad, minister for electronics and information technology, said on Saturday.
©2020 Bloomberg L.P.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
