Apple is ready to make a major investment in Bharat’s workforce over the next three years, aiming to employ over 500,000 people through its vendors, according to the media sources.
Presently, Apple’s vendors and suppliers employ around 150,000 individuals in Bharat, with Tata Electronics, which operates two plants for Apple, being the largest employer.
A senior government official said that Apple’s hiring acceleration in Bharat is notable, with the company’s vendors and component suppliers projected to employ over five lakh people over the next three years.
The US-based tech giant’s production plans in Bharat are ambitious, to expand production capacity over five times to an estimated $40 billion (about Rs 3.32 lakh crore) within the next 4-5 years.
Apple’s market dominance in Bharat was underscored by research from Counterpoint Research, which revealed that the company led the Bharatiya market in 2023 in terms of revenue for the first time. Meanwhile, Samsung maintained its position as the leader in volume sales.
‘Apple’s shipment figures have also been notable, surpassing the 10-million-unit mark in a calendar year for the first time’, according to the media reports.
Apple’s iPhone exports from Bharat experienced a remarkable surge, doubling from $6.27 billion in 2022-23 to $12.1 billion in 2023-24, as per the data from trade intelligence platform The Trade Vision. This dramatic increase signifies Apple’s growing presence and investment in the Bharatiya market.
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