Apple to employ 5 lakh people over next 3 years

Currently, Apple's vendors and suppliers in India provide employment to approximately 1.5 lakh individuals

April 22, 2024

At a conservative estimate, Apple is going to employ five lakh people in the next three years through its vendors and components suppliers

Apple's expansion plans in India indicate a significant scale-up of production, aiming to reach approximately US$ 40 billion in the next 4-5 years

Apple seized the top spot in the Indian market in terms of revenue for the first time in 2023

The export numbers for Apple's iPhones from India reached US$ 12.1 billion in 2023-24

Apple, the renowned iPhone maker, is set to significantly boost employment in India, with government sources projecting the creation of over 5 lakh jobs through its vendors in the next three years. Currently, Apple’s vendors and suppliers in India provide employment to approximately 1.5 lakh individuals, with Tata Electronics emerging as a prominent job generator through its two plants dedicated to Apple.

A senior government official informed that Apple is accelerating hiring in India. At a conservative estimate, it is going to employ five lakh people in the next three years through its vendors and components suppliers. Apple’s expansion plans in India indicate a significant scale-up of production, aiming to reach approximately US$ 40 billion in the next 4-5 years.

In a recent report , Apple seized the top spot in the Indian market in terms of revenue for the first time in 2023, while Samsung led in volume sales. Apple crossed the 10-million-unit shipment mark and claimed the highest revenue position in a calendar year for the first time.

The export numbers for Apple’s iPhones from India also tell a compelling story, soaring from US$ 6.27 billion in 2022-23 to US$ 12.1 billion in 2023-24. This significant increase reflects a remarkable surge of nearly 100%.

Source: Economic Times

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