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Apple looks to scale up manufacturing in India says Commerce and Industry Minister Piyush Goyal

"There is no other market in the world as large as the India opportunity," the minister said.

January 23, 2023 / 02:30 PM IST
Union Commerce and Industry Minister Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal

iPhone-maker Apple is looking to scale up its manufacturing in India as the business environment is helping global firms make the country their base, Commerce and Industry Minister Piyush Goyal said on Monday.

He said that India offers a rule of law, and transparent government policies and business models which help it become a preferred destination for foreign investors.

Talking about success stories of certain foreign companies, he said Apple already have about 5-7 per cent of their manufacturing in India. "If I am not mistaken, they are targeting to go up to 25 per cent of their manufacturing. They launched their most recent models from India, manufactured in India." The minister was speaking at the inaugural session of the B20 India Inception Meeting here, which was organised by industry chamber CII.

Citing another example of a foreign company in the earth movers machine sector, the minister said that because of the competitiveness of India's manufacturing, that firm is supplying their products now to 110 countries at affordable competitive prices from India and also doing new launches.