Tatas to make iPhone in India

Tata Group is set to become Indias first homegrown iPhone maker after Taiwans Wistron Group agreed to sell a plant in Bengaluru to Indias largest conglomerateWistrons board approved the sale of Wistron InfoComm Manufacturing India Private Ltd to Tata Electronics for USD 125 million the Taiwanese electronics manufacturer said in a statement on Friday The unit operates an iPhone assembly plant near BengaluruThe takeover of the Wistron Corp factory concludes about a year of negotiations The facility employs more than 10000 workers who assemble the latest iPhone 14 modelUpon confirmation and signature of the relevant agreements by both parties the deal will proceed to obtain the necessary approvals Wistron saidApples iPhones are mainly assembled by Taiwanese manufacturing giants like Pegatron Corp and Foxconn Technology GroupTata Electronics is a whollyowned subsidiary of Tata Sons the promoter of the salttosoftware conglomerate The group is seeking to make inroads into electronics production and ecommerce Tata Electronics already operates a manufacturing facility in Krishnagiri district of Tamil NaduMinister of State for Electronics and Technology Rajeev Chandrasekhar took to the X to congratulate Tata for taking over Wistron operationsThe productionlinked incentive PLI scheme has already propelled India into becoming a trusted and major hub for smartphone manufacturing and exportsNow within just two and a half years TataCompanies will now start making iPhones from India for domestic and global markets from India he said in a post on X formerly known as Twitter Thank you Wistron for your contributions and great going for Apple in building a global supply chain from India with Indian companies at its helmHe went on to state that his ministry stands fully in support of the growth of global Indian electronics companies to make India their trusted manufacturing and talent partnerCupertino Californiabased Apple is looking beyond China amid a trade war between the US and BeijingIn May this year Apples Chief Executive Officer Tim Cook said India is an incredibly exciting market and a major focus for the company as the iPhone maker highlighted that business in India set a quarterly record grew very strong doubledigits yearoveryearThe company charted an ambitious retail expansion in India in April this year when it launched two retail outlets in Mumbai and Delhi during Cooks first trip to the country in seven yearsWistron Corp held a Board of Directors meeting today and granted approval for its subsidiaries SMS InfoComm Singapore Pte Ltd and Wistron Hong Kong Ltd to sign the Share Purchase Agreement with Tata Electronics Pvt Ltd TEPL for the sale of its 100 per cent indirect stake in Wistron InfoComm Manufacturing India Pvt Ltd WMMI Wistron announced in the statementThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever