Top Apple suppliers commit Rs 6,500 crore – business news

A logo of Apple is seen outside at the upcoming Apple Marina Bay Sands store in Singapore.

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The government’s ambitious scheme to boost local electronics manufacturing seems to have started paying dividends.

Reuters reported on Monday that three suppliers to Apple —Foxconn, Wistron and Pegatron—have committed investments totalling Rs 6,500 crore in India over five years. The three plan to invest Rs 4,000 crore, Rs 1,300 crore and Rs 1,200 crore, respectively, said the report.

According to two industry executives, the investments will be made towards adding capacities. Foxconn and Wistron already make smartphones for Apple in India, while Pegatron has recently set up a local entity as per a filing with the Registrar of Companies.

Apple has been moving parts of its manufacturing operations to India through these firms. Foxconn makes the iPhone 11 at its Chennai factory while Apple confirmed previously that the 2020 version of the iPhone SE is also being produced in India.

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