- Tata Group has acquired an iPhone assembly plant near Bengaluru from Wistron Corp to handle Apple’s iPhone production in India.
- Manufacturing is expected to commence at the facility within two and a half years.
- This move is set to bolster India’s position in the global supply chain for iPhones, serving both domestic and international markets.
- The deal, valued at $125 million, includes taking over manufacturing and hiring obligations from Wistron and shipping iPhones worth at least $1.8 billion by March 2024 for state-backed financial incentives.
- Tata Group’s acquisition highlights India’s increasing significance in the global tech landscape, with companies like Apple shifting manufacturing to the country and successful government initiatives like the production-linked incentive (PLI) scheme.