Apple through its vendors in India is expected to employ over 500,000 individuals within the next three years, PTI reported citing government sources.
Presently, Apple’s vendors and suppliers provide jobs for 150,000 people, with Tata Electronics being the primary contributor.
What did the government sources say?
A senior government official revealed, “Apple is accelerating hiring in India. At a conservative estimate, it is going to employ five lakh people in the next three years through its vendors and components suppliers.”
When approached for comment, Apple declined to respond to the forecast, reported PTI.
Apple’s plans for India
Apple intends to significantly expand its production in India, aiming for a five-fold increase to approximately $40 billion within the next 4-5 years.
In 2023, Apple topped the Indian market in terms of revenue for the first time, as reported by Counterpoint Research. Samsung, on the other hand, led in terms of volume sales.
Counterpoint Research’s recent report indicates that Apple achieved shipments exceeding 10 million units, securing the top spot in revenue for the first time in a calendar year.
Apple’s iPhone exports from India experienced a substantial surge, reaching $12.1 billion in 2023-24, up from $6.27 billion in 2022-23, marking an almost 100% increase, as reported by trade intelligence platform The Trade Vision.
With inputs from PTI.
