In a groundbreaking move, Tata Group, a renowned Indian conglomerate, is set to begin the production of iPhones in India.
Following the acquisition of Wistron’s operations, Tata Electronics will manufacture iPhones not only for the Indian market but also for global distribution.
Minister of State for Electronics and Technology, Rajeev Chandrasekhar, announced this significant development on Twitter, underscoring the growing prominence of India in the global smartphone manufacturing and export landscape.
Production Linked Incentive (PLI) Scheme Fuels India’s Growth
Minister Chandrasekhar emphasized the role of India’s Production Linked Incentive (PLI) Scheme, initiated by Prime Minister Narendra Modi, in transforming the nation into a dependable hub for smartphone production and export.
He highlighted the remarkable speed of progress, with Tata Group expected to commence iPhone manufacturing for both domestic and international markets in just two and a half years.
Union Minister’s Announcement
In support of this strategic shift, Union Minister Wistron Corp shared an official announcement.
According to the statement, the company’s board of directors, in a meeting held on October 27, approved the sale of its subsidiary companies, SMS Infocom (Singapore) Private Limited, and Wistron Hong Kong Limited, to Tata Electronics Pvt. Ltd. (TEPL) through a share purchase agreement.
Details of the Agreement
Under this agreement, Wistron Corp will divest its entire 100 percent stake in Wistron Infocom Manufacturing (India) Private Limited (WMMI), a transaction estimated at $125 million.
Once all necessary agreements are signed by the involved parties, Wistron Corp will make the relevant announcements, adhering to regulatory requirements, providing comprehensive information about the development.
Tata Group’s Expansion into iPhone Production
This move by Tata Group signals a remarkable shift in India’s electronics manufacturing landscape.
With a focus on high-quality iPhone production, the conglomerate is poised to contribute significantly to India’s burgeoning smartphone industry and strengthen its presence on the global stage.
The initiative aligns with the Indian government’s “Make in India” vision and further establishes the nation as a vital player in the global electronics market.
As India continues to expand its manufacturing capabilities and attract global technology giants, the future of the country’s smartphone industry appears brighter than ever.
