TATA Group to Invest Rs 5,000 Crore in Apple. Made In India new iPhones at Lower Price Soon?
By Subhransu Sekhar Sahoo
Recently the TATA Group has come to a deal of Rs 5,000 Crore and they are ready to invest money in Apple to produce Made in India iPhones.
Tamil Nadu Industrial Development Corporation (TIDCO) allotted 500 acres of land to TATA Electronics due to which now TATA Electronics will be able to manufacture mobile phone components and especially the components of Apple iPhone. If this deal successfully happens, the Indian users, as well as foreign users, will be able to get Made In India iPhones, and the pricing for India of iPhones will get reduced and people all over India will be able to afford iPhones as their prices will drop.
It is claimed that TATA Group is also looking forward to investing more Rs 3,000 Crores, in the future up to Rs 8,000 Crores if everything goes right. Not only this, but they are also looking forward to creating more than 18,000 jobs for eligible candidates, by next year October 2021. Additionally, they are looking forward to creating a 90% vacancy for women from the job opportunity. Titan Engineering and Automation Ltd. (TEAL) will help in a successful setup for this plan and also provide their expertise so that the production facility is properly set up.
Apple iPhone’s manufacturing contractor Foxconn is already manufacturing iPhone 11 in Tamil Nadu. Due to this the price of the iPhone 11 has dropped down a lot from the price that they were initially launched in India. We can also expect that the assembling of the all-new iPhone 12 Pro will start in India soon. If Apple’s iPhone series will get started manufacturing in India, the United State’s huge company Apple will get to pay low interest and low custom duties due to which the price difference of iPhones in India with the United States will get reduced and also Apple will get a cheap labour force from India.