Jobs Galore At Apple, Company To Employ 5 Lakh People In India

New Delhi: Apple, a Cupertino-based company, aims to boost local value addition from its Indian suppliers, mirroring its strategy in China. Currently, Apple's India value stands at 11-12%, projected to rise to 15-18% according to ET. India currently contributes around 7 per cent to global iPhone sales, a figure poised to potentially reach 25 per cent by 2030.

In China, Apple boasts the highest domestic value addition globally at 28 per cent.

According to ET, Apple aims to transfer at least half of its current supply chain from China to India in the next three years. This shift could result in around five lakh direct employment opportunities for component manufacturers and suppliers within Apple's ecosystem, marking a significant three-fold increase in job creation.

Meanwhile, Experts suggest that as India becomes a crucial market for exporting and locally selling Apple products, it will stimulate a thriving supplier network. Additionally, India has the potential to emerge as a significant R&D hub for software-to-silicon design. 

“The current local value addition, which is a contribution to the dollar value of the total manufacturing and design cost in an iPhone produced in India, stands at 14% compared to 41% in China,” said Neil Shah, vice president at Counterpoint Research.

“With the right investments and expansion, Apple has the potential to increase it to more than 20% in the next three to five years," he added.

Tim Cook, CEO of Apple, stated in February that the company is witnessing robust double-digit growth in many emerging markets, achieving records in several countries, including a December quarter milestone in India.