Apple to make an investment of $1 billion in manufacturing through its partners

tech2 News StaffSep 18, 2019 14:05:05 IST

Apple is stepping up its manufacturing plans in India with a $1 billion investment with its partners. Its Chennai factory will be used to manufacture Apple products that will be shipped to global markets. Foxconn will be one of the partners in the investment along with a few more component suppliers who will also invest in the region.

Apple logo. Image: Reuters

Reported by The Times of India, a source told the publication that the products manufactured in India are undergoing testing and Apple is “seeking clarity” on export incentives from the local government.

“Apple has started manufacturing iPhones in India... making components and are exporting as well… Apple is on board as far as India’s success story is concerned,” said IT and electronics minister Ravi Shankar Prasad.

Currently, there aren’t any official Apple stores in the country nor does it have an online store. The company is apparently working on opening three brick-and-mortar stores along with enabling its online store in the country. It has said that the stores opening in Mumbai and Delhi will offer the same experience present in its global centres.