Indian Govt Bakes Agenda Points Around iPhone Production

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Apple CEO Tim Cook is set to visit India on April 18th for the inauguration of the company’s first Mumbai store, according to Bloomberg. During his visit, Cook is expected to meet with Indian Prime Minister Narendra Modi, and government officials are expected to propose increased engagement with the tech giant in India. Apple and supplier Foxconn have been expanding their operations in India, with Apple’s revenue from the country reaching an all-time high of $20.8 billion in the December quarter. The company has also been engaging in social initiatives in India, including water management, mangrove preservation, and solar engineer training.

It seems that Apple has achieved an all-time revenue record of $20.8 billion, despite facing macroeconomic challenges and supply constraints. The company has also returned more than $25 billion to shareholders during the quarter, while continuing to invest in long-term growth plans. This indicates that despite challenges, Apple’s financial position remains strong and the company is committed to investing in its future growth. Apple has been trying to reduce its dependence on China due to geopolitical tensions with the US, and as a part of that strategy, it has been increasing its manufacturing capabilities in India. The production of iPhones in India has been increasing steadily, and in FY23, it tripled to $7 billion. Additionally, $5 billion worth of iPhones produced in India were exported in the last fiscal year, indicating the growing importance of India as a manufacturing hub for Apple.