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Apple may shift fifth of production to India

11 May 2020 14:15 (UTC +04:00)

American tech giant Apple Inc. has been ramping up manufacturing of its iPhones in India as it shifts away production from China, APA reports citing Tele Trader.

According to a report from the Economic Times released on Monday, Apple's senior executives have been meeting with government officials in India in order to shift nearly a fifth of the company's production from China, which would amount to $40 billion over the next five years.

"We expect Apple to produce up to $40 billion worth of smartphones, mostly for exports through its contract manufacturers Wistron and Foxconn, availing the benefits under the production-linked incentive (PLI) scheme," a senior government source shared.