The Indian government has tabled a proposal for tech giant Apple, wherein the company must bring about annual production output amounting to $50 billion in the coming five-six years as part of the country’s ‘Make in India’ initiative.
“The meeting with the Apple officials happened recently, where senior members of the government – including a top minister – were present,” a source in the know of the developments was quoted in a report by The Economic Times.
As per the proposal, the projection for Apple to augment its products in India by bringing the likes of air pods, watches, iPads, and Macbooks under its ambit. The company has also been tasked with evolving India into a global sourcing base so that products made in India can be exported across the world.
The company’s products are being manufactured in India through the likes of Wistron and Foxconn, however, it still pales in comparison when it comes to the sheer volumes of the same produced by China.
The government in return has promised a suitable environment for encouraging companies to invest, grow and manufacture in India through production-linked incentive (PLI) scheme and capital subsidy plans.
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