More than a dozen Chinese suppliers of iPhones, other devices and components for Apple have received preliminary clearance to expand in India. Very soon these suppliers will start manufacturing in India. This includes companies such as Air Pod and iPhone assembler Luxshare Precision Industry and lens maker Sunny Optical Technology.
According to government sources, after getting approval from key government ministries, these companies will have to find joint venture partners in India. About 14 suppliers have got the green signal from the Government of India.
Apple has included their names in the companies whose services it will need to expand its presence in India. The approval of these 14 companies to come to India will help Apple to expand outside China, while India will help in becoming a manufacturing hub.
According to the South China Morning Post, Apple has exported iPhones worth $ 2.5 billion from India between April and December 2022. This is almost double as compared to the previous financial year. JP Morgan had earlier estimated that India could assemble 25% of the world's iPhones by 2025.
Apple is also assembling its latest iPhone models in India. These include iPhone SE, iPhone 12, iPhone 13 and iPhone 14 (Basic). However, all Pro models sold in the country are imported. The American company started assembling the latest iPhone models in India last year. Prior to this, other suppliers including Foxconn have been producing new models.