Replies to post #146082 on Apple Inc (AAPL)

[Investors3]

Apple assembler Foxconn to invest $500 million in India’s Telangana state, create 25,000 jobs
Monday, May 15, 2023 8:45 am

Major Apple assembler Foxconn will invest $500 million to set up manufacturing plants in the southern Indian state of Telangana, the state’s IT minister said on Monday.

Reuters:

The investment will create 25,000 jobs in the first phase, K. T. Rama Rao said in a tweet.

Apple has been shifting production away from China, where prior COVID restrictions disrupted the manufacturing of new iPhones and other devices. The tech company is also looking to avoid a hit to its business due to tensions between Beijing and Washington.

Foxconn in late March received approval from the Karnataka government for a $968 million investment in the state.

MacDailyNews Take: The CCP’s “zero COVID” lunacy was the straw that broke the camel’s back and, clearly, India is well-positioned to take advantage.

MacDailyNews Note: iPhone models are currently assembled in India by Foxconn and Pegatron in Tamil Nadu and Wistron in Karnataka.

https://macdailynews.com/2023/05/15/apple-assembler-foxconn-to-invest-500-million-in-indias-telangana-state-create-25000-jobs/

[Investors3]

India launches $2 billion incentive plan to court laptop, tablet makers like Apple
Wednesday, May 17, 2023 8:55 am

India is unveiling a 170 billion rupee (US$2 billion) incentive plan to woo makers of laptops, tablets, and other hardware such as Apple to the South Asian nation as companies look to diversify supply chains beyond China.

Sankalp Phartiyal for Bloomberg News:

Prime Minister Narendra Modi is capitalizing on the early success of Apple Inc.’s local assembly operations — which have helped the US company produce about 7% of its global iPhone output — to pitch the country as a viable global manufacturing hub. New Delhi wants to bring more tech production to India after China’s trade war with the US and its strict Covid policies prompted companies to weigh other options.

Apple has yet to begin making iPads or MacBook laptops in India, but fresh incentives could push the Cupertino, California-based company to consider such moves. Other manufacturers who could take advantage of the new measures include Dell Technologies Inc., HP Inc. and Asustek Computer Inc.

MacDailyNews Take: Small, but a step in the right direction.

https://macdailynews.com/2023/05/17/india-launches-2-billion-incentive-plan-to-court-laptop-tablet-makers-like-apple/