It all truly began in 2013. After milking low production costs and banking on a mammoth consumer market in China for over two decades, western companies began realising that ‘Made in China’ may not be sustainable in the long run. Thus began the thought of the need to look elsewhere.
The Covid-19 pandemic emboldened the companies’ realisation of the perils of depending solely on one nation for their sourcing and manufacturing operations.
With the Chinese dividend beginning to wane, ..
However, the Narendra Modi-led government has been tweaking norms in its bid to improve ease of doing business in India, thereby making it an attractive investment destination and a robust alternative to China.
Apple has bet big on India since it began iPhone assembly in the country in 2017, in line with the Indian government’s push for local manufacturing.
Setting up shop in India, especially for a foreign company is a tedious task even after 2014.
Assertive on having provided employment opportunities in India, Apple made the pitch to Indian authorities, seeking tweaks in FDI norms. The Centre heard the call, and made the changes, paving way for Apple’s increased presence in India.
Apple tripled its production to more than $7 billion of iPhones in India last fiscal, as it seeks to reduce its reliance on China, which is reeling from geopolitical, local and economical worries.
“India is a hugely exciting market for us and is a ..
Further, renowned global companies have been hesitant to shift their bases to India, citing issues related to supply chain, infrastructure and labour.
FT in February reported that one of Apple’s suppliers had seen only a 50% yield in their production line at a casings factor. Apple prefers zero defects. Its process of expanding in India has been slow owing to issues with logistics, tariffs and infrastructure, FT added.
The road to becoming the world’s factory is riddled with hurdle ..
Source : https://tinyurl.com/4u874d47
