iPhone maker Apple intends to boost production fivefold to US$40 billion within five years, according to reports in the country citing government officials.
Last year, iPhone production in India totalled US$7b but with tensions rising between Taiwan and China, traditionally where Apple sourced its manufacturing, it has been looking at alternatives.
Apple’s recently launched iPhone15 will be made exclusively in India, while the group has also said AirPod headphones will be made there next year.
Earlier this year, Apple contractor Foxconn said it was doubling its investment in India adding that several billion dollars it had invested so far was “only the beginning”.