Samsung has the largest mobile phone factory in Noida, Uttar Pradesh, since 2018
Apple ecosystem has generated more than 1 Lakh jobs in the country
India’s smartphone market is projected to grow to 253.28 Mn units by 2027, at a 7.97% CAGR
It is not new for Samsung and Apple to look at India as a key geographical location for manufacturing. And going by this growing appetite for the country, the two giants are trying to increase their electronics manufacturing in India.
Minister of State for Electronics and Information Technology Rajeev Chandrasekhar said that the two companies are moving towards increasing their electronics manufacturing in India, Bloomberg reported.
While Samsung had already taken a step towards its India goal in 2018, with setting up its largest mobile factory in Noida, Apple has also started bolstering its presence in the country by launching two stores here.
Samsung’s Noida factory is capable of producing as many as 120 Mn units a year. Chandrasekhar further added that India is going to launch a $2 Bn plan to boost local manufacturing of devices including laptops, servers, tablets and other electronics.
The publication quoted the minister saying, “We’ve had considerable success and tailwinds in the smartphone segment and we have increased interest from the likes of Apple and Samsung in expanding and growing here.”
The ‘Make in India’ initiative of the Indian government and multiple subsidies for local manufacturing has caught the attention of the global players. In 2019, the ministry of electronics and information technology (MeitY) had proposed incentives for local manufacturing in the country.
In the same year, addressing the fourth anniversary of the Skill India Programme, Minister Ravi Shankar Prasad said that India is looking forward to becoming a major export hub of electronics.
The Apple ecosystem as a whole has been actively investing in India to boost production. Along with the tech giant, its vendors including Foxconn, Wistron, Salcomp and newly added Tata Group have also been strengthening presence by setting up multiple manufacturing and assembly plants.
In the meantime, following the inauguration of the Apple stores, Chandrasekhar announced that the company has generated 1 Lakh jobs in the country.
Recently its vendor Foxconn has signed a deal with Telangana to open up a manufacturing plant in the state and employ local talent.
According to a MarketResearch study, the market that stood at 160.70 Mn units in 2021, is projected to grow to 253.28 Mn units by 2027, at a 7.97% CAGR during the 2022–2027 forecast period.