India’s demographic dividend has allowed more and more foreign companies to bet on India’s manufacturing industry to achieve rapid development, and Apple is the most active.
According to Kuaishi Technology, the Indian Kanataka government issued a statement saying that Hon Hai Group plans to continue to increase the investment of US $ 1.67 billion (about NT $ 52.7 billion) in the local area.This investment will be used to invest in the construction of factoriesKolkata Wealth Management. It is expected to produce iPhone in April next year and create about 50,000 employment opportunities for India.Ahmedabad Wealth Management
It is worth mentioning that Hon Hai Group is actually the parent company of Foxconn.Although the Hon Hai Group has not responded to this matter, they have long acting.
Just last month, Hon Hai Group issued an announcement saying that Indian subsidiaries will build factories from the local commissions, and the expected investment amount is close to NT $ 10 billion.
In August of this year, Hon Hai Group has invested $ 600 million in Kanataka, which is used to produce iPhone mobile phone cases and other devices.
In Tamilnad, India, Hon Hai Group began to produce iPhone15 in the third quarter of this year. In the fourth quarter, the iPhone15Plus model began to bring 35,000 jobs to the local area.
Industry insiders have revealed that Apple’s determination to support the Indian manufacturing industry has not changed. As the investment scale comes up, Apple will also increase the local iPhone supply chain so that the world can use the iPhone made by India.Nagpur Investment
Not only that, Apple is also preparing to launch the iPhone’s NPI in India, which is the test and verification process of new products.After the NPI verification is successful, the product can be transferred to the subsequent mass production engineering departments by the R & D department, and it can also issue documents that can be produced in batches.
In fact, Hon Hai Group is currently actively investing in India to cater to Apple’s preparations for NPI in India.The supply chain person pointed out that the reason why Hon Hai Group is currently investing in India is exactly not far from Apple’s iPhone’s iPhone in India.Apple is now to support India and become the world’s second iPhone production place.
Tianfeng Securities Analyst Guo Mingzheng said that 75%-80%of the iPhone produced in India is currently the foundry of Hon Hai Group.In the iPhone14 and other models, Apple only handed a small part to the Indian market for assembly, and the shipments were about 6-9 months behind the Indian mainland.However, as of the end of March this year, 7%of iPhone has begun to produce in India.
Foreign capital was originally estimated that it is expected that the iPhone production manufactured by India will account for 25%by 2025.Guo Mingzheng said that 20%-25%will be in 2024, because Apple is now accelerating industrial transfer to reduce some geographical risks caused by the Sino-US scientific and technological warfare.
For this point, Hon Hai Group India’s representative Li Jiaen also responded that Hon Hai’s employment, outsiders’ direct investment, and business scale of Hon Hai will double more.Ahmedabad Investment
Looking back, because of the betting of many foreign companies, India’s economy has indeed been improved well.The Indian government previously announced the relevant data. In the third quarter of 2023, the GDP (GDP) increased by 7.6%year -on -year, which exceeded the previous forecast of the Indian Bank of India.
The International Monetary Fund stated that the total GDP of India is expected to surpass Japan in 2026 and exceed Germany in 2027.At that time, India will become the third largest economy in the world after the United States and India.
On December 4, the rating agency S & P Global released the Global Credit Outlook of 2024.Among them, India will be the fastest growing economy in the world in the next three years, but whether India can become the next global manufacturing center is still a major test. At the same time, this is also a year for India.Great opportunities.
In the 1990s, India began to implement economic liberalization.As a result, the service industry, which is dominated by the outsourcing industry, has become a major feature of the Indian economy.To this day, the service industry is still one of the main industries in India. In the past 10 years, the manufacturing industry only accounts for 14%-17%of GDP.
In 2014, Modi began to propose a plan for "Made in India 1.0".In 2019, after Modi’s second time as the Indian Prime Minister, Modi began to propose the "Indian Manufacturing 2.0" plan.etc.
In Modi’s plan, in 2020, India can increase the proportion of manufacturing to GDP to 25%, and add 100 million manufacturing jobs.However, Modi’s goal has been postponed to 2025.
In order to stimulate the manufacturing industry, Modi launched the "Production Hook Incentive Plan" in March 2020, which is PLI.The first PLI plan is to focus on the development of electronic parts and mobile phone manufacturing, so smartphones are made into India’s fastest development industry.
I have to admit that Modi does have vision.However, the approach of "India Money Money India" does not know if it will happen to Apple in the future?
Guoabong Investment