Apple, the renowned manufacturer of iPhones, is set to significantly expand its workforce in India over the next three years, as per government sources.
Currently, Apple's suppliers and vendors provide employment opportunities to around 150,000 individuals in India, with Tata Electronics emerging as a key player in job creation through its two manufacturing facilities dedicated to Apple.
A senior government official shared insights, stating that Apple is poised to intensify its hiring efforts in India, with a projected addition of over 500,000 employees through its network of vendors and component suppliers within the next three years.
When approached for comment, Apple refrained from offering any official statement regarding these projections.
As part of its strategic growth plans, Apple aims to ramp up its production capacity in India by more than five times, targeting approximately USD 40 billion in production value over the next 4-5 years.
In a significant development, Counterpoint Research reports that Apple secured the top position in revenue within the Indian market for the first time in 2023, while Samsung retained its lead in terms of volume sales.
According to the latest findings from Counterpoint Research, Apple crossed the 10-million-unit shipment mark and emerged as the revenue leader for the first time in a calendar year.
The export of iPhones from India witnessed a remarkable surge, escalating from USD 6.27 billion in 2022-23 to USD 12.1 billion in 2023-24, marking an impressive growth of nearly 100%, as revealed by The Trade Vision, a trade intelligence platform.
Read also | Zomato Faces Rs 11.81 Crore GST Demand and Penalty
Read also | FY24 Direct Tax Collections Surpass Estimates, Soar by 18% to Rs 19.58 Lakh Crore
