Ritam Digital English
  • Home
  • Nation
  • World
  • Videos
    • Special Updates
    • Entertainment
    • Legal
    • Business
    • History
    • Viral Videos
  • Politics
  • Business
  • Lifestyle
    • Entertainment
    • Health
    • Food
    • Fashion
    • Viral
  • Sports
  • Opinion
No Result
View All Result
Ritam Digital English
  • Home
  • Nation
  • World
  • Videos
    • Special Updates
    • Entertainment
    • Legal
    • Business
    • History
    • Viral Videos
  • Politics
  • Business
  • Lifestyle
    • Entertainment
    • Health
    • Food
    • Fashion
    • Viral
  • Sports
  • Opinion
No Result
View All Result
Ritam Digital English
No Result
View All Result
  • Home
  • Nation
  • World
  • Videos
  • Politics
  • Business
  • Entertainment
  • Lifestyle
  • Sci & Tech
  • Sports
  • Opinion
Home Business

Apple’s Job Creation Spree in Bharat Leads to Housing Initiative: Over 78,000 Homes Planned for Factory Workers

Apple to Provide Housing for Factory Workers in Bharat Amidst Growth in Production

Editor Ritam English by Editor Ritam English
Apr 8, 2024, 05:02 pm IST
Apple's Job Creation Spree in Bharat Leads to Housing Initiative: Over 78,000 Homes Planned for Factory Workers

Apple's Job Creation Spree in Bharat Leads to Housing Initiative: Over 78,000 Homes Planned for Factory Workers

FacebookTwitterWhatsAppTelegram

In the past two and a half years, Apple has made significant strides in Bharat, creating over 150,000 direct jobs. Now, the tech giant is shifting its focus towards enhancing the living standards of its factory workers by providing residential accommodations. This move aligns with successful industrial housing models observed in countries like China and Vietnam.

According to reports, Apple’s key contract manufacturers and suppliers, including Foxconn, Tata, and Salcomp, are planning to construct homes for their employees in Bharat. This initiative, conducted under a public-private partnership scheme, marks one of the largest endeavors of its kind in the country.

It’s reported that more than 78,000 housing units are set to be constructed, with Tamil Nadu receiving the highest allocation of around 58,000 units. Major developers involved in this project include the State Industries Promotion Corporation of Tamil Nadu (SIPCOT), Tata Group, and SPR India.

Funding for this ambitious housing project comes from various sources, including contributions from the central government (10-15%), state governments, and private entrepreneurs. Construction and handover to the private sector are expected to be completed by the end of the fiscal year 2024-2025.

This initiative comes at a crucial time as Apple ramps up its production capabilities in Bharat through its contract manufacturers. The company’s Bharat business recorded a significant revenue of INR 49.3K Cr (approximately $6 Bn) in the fiscal year 2022-2023, marking a 48% increase from the previous year.

Most importantly, the government recognizes the importance of providing comfortable housing for workers, especially in the electronics industry, which heavily relies on proximity to major airports for efficient transportation. This move aims to improve productivity, working conditions, and overall welfare outcomes for the workers, as highlighted by S Krishnan, the secretary of the Ministry of Electronics and IT (Meity).

With Apple’s continued commitment to expanding its presence in Bharat, including manufacturing iPhones worth INR 1 Lakh Cr in 2023 alone, the provision of residential accommodations for factory workers signifies a holistic approach towards sustainable growth and development in the region.

Tags: AppleiPhones
ShareTweetSendShare

Related News

Is the WTO Rigged Against India? How New Trade Rules Are Being Challenged by Emerging Powers
Nation

Is the WTO Rigged Against India? How New Trade Rules Are Being Challenged by Emerging Powers

Why Is Gold So Expensive on Akshaya Tritiya 2025? Mythology, Markets, and the Truth Behind the Rs 97,000 Price Tag
Nation

Why Is Gold So Expensive on Akshaya Tritiya 2025? Mythology, Markets, and the Truth Behind the Rs 97,000 Price Tag

Is India the World’s New Economic Safe Haven? Stock Market Bounces Back Faster Than Any Other Country
Nation

Is India the World’s New Economic Safe Haven? Stock Market Bounces Back Faster Than Any Other Country

Fugitive Businessman Mehul Choksi Arrested in Belgium: A Look at India’s Biggest Bank Frauds
Nation

Fugitive Businessman Mehul Choksi Arrested in Belgium: A Look at India’s Biggest Bank Frauds

Is the US-China Trade War About to Crash the Global Economy? Tariffs Soar- 125% and 151%, Here’s What You Need to Know
World

Is the US-China Trade War About to Crash the Global Economy? Tariffs Soar- 125% and 151%, Here’s What You Need to Know

Comments

The comments posted here/below/in the given space are not on behalf of Ritam Digital Media Foundation. The person posting the comment will be in sole ownership of its responsibility. According to the central government's IT rules, obscene or offensive statement made against a person, religion, community or nation is a punishable offense, and legal action would be taken against people who indulge in such activities.

Latest News

 If History Had Followed Mukherjee’s Path, What Would India Have Been Like?

 If History Had Followed Mukherjee’s Path, What Would India Have Been Like?

78 Years Ago Today, British Parliament Passed Indian Independence Act

78 Years Ago Today, British Parliament Passed Indian Independence Act

July 4, 1947: The Secret Turning Point That Led to India’s Historic Independence a Month Later

July 4, 1947: The Secret Turning Point That Led to India’s Historic Independence a Month Later

The Death of Swami Vivekananda: A Legacy Beyond Mortality

The Death of Swami Vivekananda: A Legacy Beyond Mortality

The Sedition Trial of Bal Gangadhar Tilak in 1897: A Watershed in Colonial India’s Repression of Dissent

The Sedition Trial of Bal Gangadhar Tilak in 1897: A Watershed in Colonial India’s Repression of Dissent

Shimla Agreement: The Untold Realities Behind a Defining Indo-Pak Treaty

Shimla Agreement: The Untold Realities Behind a Defining Indo-Pak Treaty

A Nation’s Healer and Builder: The Inspiring Legacy of Dr. Bidhan Chandra Roy

A Nation’s Healer and Builder: The Inspiring Legacy of Dr. Bidhan Chandra Roy

What RSS Has Done for Families: From Promoting Fertility to Strengthening Family Values Through Kutumb Prabodhan

What RSS Has Done for Families: From Promoting Fertility to Strengthening Family Values Through Kutumb Prabodhan

How ‘Make in India’ Transformed Indian Manufacturing: A Decade of Massive Growth

How ‘Make in India’ Transformed Indian Manufacturing: A Decade of Massive Growth

Iran-Israel Ceasefire | PM Modi Praises Shubhanshu Shukla | Kharge Criticizes Tharoor | Cloudburst

Iran-Israel Ceasefire | PM Modi Praises Shubhanshu Shukla | Kharge Criticizes Tharoor | Cloudburst

  • Home
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer

© Ritam Digital Media Foundation.
Tech-enabled by Ananthapuri Technologies

No Result
View All Result
  • Home
  • Nation
  • World
  • Videos
  • Politics
  • Business
  • Entertainment
  • Lifestyle
  • Sci & Tech
  • Sports
  • Opinion
  • About & Policies
    • About Us
    • Contact Us
    • Privacy Policy
    • Terms & Conditions
    • Disclaimer

© Ritam Digital Media Foundation.
Tech-enabled by Ananthapuri Technologies