Apple's Ambitious Expansion in India: A Job Creation Powerhouse
Curated by THEOUTPOST
On Tue, 27 Aug, 4:01 PM UTC
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Apple's India expansion to create over 600,000 jobs: Report | Mint
Apple India: Tech giant Apple's increasing focus on India, as it diversifies from China, is expected to generate a significant number of jobs in the country. According to a recent report by the Economic Times, Apple's local ecosystem could lead to the creation of more than 600,000 jobs in India. Livemint could not independently verify this news development. The report suggested that by the end of the current financial year, Apple may add approximately 200,000 direct jobs, with women constituting over 70 per cent of this workforce. Government projections cited in the report indicate that each direct job typically results in at least three indirect jobs, potentially leading to a total of 500,000 to 600,000 new employment opportunities. This development coincided with reports of Apple ramping up its manufacturing capabilities in India. Bloomberg News has reported that the company has initiated training programmes for thousands of workers at its Tamil Nadu factory. The goal is to produce the iPhone 16 Pro and Pro Max versions as close to their global release date as possible. Additionally, there are indications that Apple plans to assemble its high-end Pro and Pro Max models of the upcoming iPhone 16 series in India for the first time. This production will reportedly be carried out through Apple's partner, Foxconn Technology Group, at their Sriperumbudur facility in Tamil Nadu. The technology community is eagerly anticipating the launch of the iPhone 16 series. Apple has officially announced the event with the tagline 'It's Glowtime', scheduled for September 9. Industry observers expect the unveiling of four new iPhone 16 models during this event. Meanwhile, Apple named insider Kevan Parekh as its chief financial officer on August 26. Parekh replaced company veteran Luca Maestri, who will transition from the role on January 1, 2025. The leadership change comes ahead of Apple's multiple product launches this fall season, which analysts have called the biggest software upgrade for the iPhone. It includes artificial intelligence features, which are crucial for Apple as it looks to reverse a slowdown in global sales, particularly in China, and better compete with rivals who have rolled out AI upgrades.
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Apple's Bullish Expansion In India To Create 200K Direct Jobs By March 2025: Report - Apple (NASDAQ:AAPL)
This story was originally published on the Benzinga India portal. Apple's AAPL burgeoning operations in India are set to generate around 600,000 jobs by the close of this fiscal year. This surge in job creation is a result of the tech giant's strategic move to diversify its production from China. What Happened: Apple's workforce in India will comprise 200,000 direct jobs by the end of March 2025, with women making up a significant 70% of this workforce, reported the Economic Times. The company's three contract manufacturers in India -- Foxconn, Wistron (now Tata Electronics), and Pegatron -- have already created 80,872 direct jobs. Additionally, a host of suppliers, including the Tata Group, Salcomp, Motherson, Foxlink in Tamil Nadu, Sunwoda in Uttar Pradesh and ATL in Haryana and Jabil in Maharashtra, have collectively generated around 84,000 direct jobs. if you want to keep up with all the latest stock market updates in India, sign up for the Benzinga India weekly newsletter. Over the past few years, Apple has become the largest blue-collared job creator in India. Since the inception of the smartphone production-linked incentive scheme in 2020, Apple vendors and suppliers have created around 165,000 direct jobs. Furthermore, the Tata Group's twin facility in Hosur, Tamil Nadu, which includes an iPhone manufacturing unit, is expected to employ around 50,000 individuals over time. The commercial production of iPhones at this facility is set to begin in October. The Indian government estimates that every direct job in the electronics sector generates three indirect jobs. This suggests that the Apple ecosystem could create anywhere between 500,000 and 600,000 jobs by the end of March. Read Next: Samsung Rival LG Follows In Hyundai's Footsteps, Mulls India IPO: Report Disclaimer: Artificial intelligence was used as a secondary aid in the writing of this story. Market News and Data brought to you by Benzinga APIs
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Apple's expansion plans in India are set to create over 600,000 jobs, with 200,000 direct jobs expected by March 2025. This move signifies Apple's growing commitment to the Indian market and its potential impact on the country's economy.
Apple's Strategic Move into India
Apple Inc., the tech giant known for its innovative products, is making significant strides in expanding its presence in India. This expansion is not just about increasing market share; it's poised to have a substantial impact on job creation in the country. According to recent reports, Apple's ambitious plans could lead to the creation of over 600,000 jobs in India 1.
Direct Job Creation
The most immediate impact of Apple's expansion will be seen in direct job creation. By March 2025, Apple is expected to generate approximately 200,000 direct jobs in India 2. These positions will likely span various sectors, including manufacturing, retail, and support services, providing a significant boost to employment in the tech sector.
Indirect Employment Opportunities
Beyond direct employment, Apple's expansion is anticipated to have a ripple effect on job creation. The total number of jobs, including indirect employment, is projected to exceed 600,000 1. This includes positions in the supply chain, logistics, and various supporting industries that will grow alongside Apple's increased presence in the country.
Manufacturing and Assembly
A key component of Apple's expansion in India is the increase in local manufacturing and assembly operations. The company has been gradually shifting some of its production away from China, with India emerging as a preferred alternative. This shift is expected to create numerous jobs in the manufacturing sector, particularly in regions where Apple and its partners set up production facilities.
Retail and Customer Support
As Apple strengthens its retail presence in India, there will be a need for more employees in sales, customer support, and related services. The company's plans to open more Apple Stores across the country will contribute significantly to job creation in the retail sector.
Impact on the Indian Economy
The job creation resulting from Apple's expansion is expected to have a positive impact on the Indian economy. It aligns with the Indian government's "Make in India" initiative, which aims to boost domestic manufacturing and create employment opportunities. The influx of high-tech jobs could also lead to skill development and technology transfer, potentially elevating India's position in the global tech manufacturing landscape.
Challenges and Opportunities
While the job creation prospects are promising, there may be challenges in terms of skill development and training to meet Apple's quality standards. This situation presents an opportunity for educational institutions and training programs to align their curricula with the needs of high-tech manufacturing and support services.
As Apple continues to expand its footprint in India, the coming years will likely see a transformation in the country's tech manufacturing and retail landscapes, with job creation being a key beneficiary of this strategic move.
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