Apple is planning to build two major factories near Bangalore and Chennai, with a cumulative employment capacity to 1,00,000 workers, amid rising local component production to support iPhone assembly, according to India’s Chief Economic Adviser V Anantha Nageswaran.

Speaking in the fireside chat with Raghuram Rajan, the former RBI governor and Harold W. McGraw, III Foundation Senior Fellow (adjunct) at the Hoover Institution, Nageswaran said this expansion is in alignment with Apple’s global strategy to diversify its production unit from China under India’s PLI scheme.

“Value additions in the Indian manufacturing phones are increasing…it was single-few digit in the first few years, and high double-digits," Nageswaran said.

The CEA added that some of the components are now being made ins

See Full Page