Apple's iPhone production in India has surged significantly, with $14 billion worth of smartphones manufactured in FY24, doubling the previous fiscal's output. This translates to one in seven iPhones globally being assembled in India. Over 70% of this production has been exported to Europe, the US, and Asia. Foxconn Hon Hai and Pegatron in Tamil Nadu, along with Wistron (now owned by Tata Group) in Karnataka, have been key contributors. These vendors, part of India's smartphone production-linked incentive (PLI) scheme, have surpassed investment targets, exemplifying the success of India's manufacturing push in the tech sector.
Tata Group entities - Air India and Tata Advanced Systems (TASL) - have announced plans to invest Rs 2,300 crore in Karnataka, creating 1,650 jobs. Air India will establish a maintenance, repair and overhaul facility at Bengaluru airport, while TASL will undertake multiple initiatives including manufacturing and research facilities. The investments align with the Atmanirbhar policy of the Modi government.
As Tata is looking to build its OSAT business and precision electronics manufacturing amid India s aspiration to build a self-reliant semiconductor ecosystem, the Indian conglomerate has hired Randhir Thakur, former head of Intel Foundry Services, to lead its newly-established semiconductors business.