When we take into account indirect jobs, Apple and its ecosystem have directly produced 1,50,000 jobs in India and an extra 3,00,000 jobs. Apple intends to generate 5,000 direct employment when it shifts half of its supply chain from China to India.
With its ecosystem, Apple has already generated 1,500,000 direct jobs. Over the next three years, the company hopes to hire 5,000,000.
Over the next three years, Apple intends to shift at least half of its current supply chain from China to India as part of its ongoing efforts to detach from China and invest in that country. Apple will also greatly expand the number of jobs it offers in India during this process.
Apple intends to significantly boost its present workforce by hiring at least 5,00,000 workers directly in India’s network of suppliers and component manufacturers, according to a report published in the Economic Times.
At the moment, Apple holds the record for the most blue-collar jobs held by a single firm in India with over 1,50,000 positions.
Apple’s continued strategy to reduce its dependency on China and boost local value addition from its Indian suppliers includes the move away from China. The strategy is well-known as the “China Plus One policy.”
With a domestic value addition rate of 28%, China is the nation with the highest percentage of any country worldwide. In India, value-add is currently between 11 and 12 percent, but is predicted to rise to 15 to 18 percent.
According to experts, India’s increasing significance as a market for Apple goods will encourage a thriving supplier ecosystem and even establish the nation as a center for Apple’s research and development, particularly in software-to-silicon design.
Vice president of Counterpoint Research Neil Shah pointed out that India now contributes 14% of the local value addition to iPhone manufacturing, while China contributes 41%. As to the ET research, Apple has the potential to raise this percentage to more than 20% with appropriate investments and growth.
Salcomp Technologies, Foxlink, Sunwoda, and Tata Electronics are some of Apple’s Indian suppliers. With estimates indicating that since the introduction of the production-linked incentive, or PLI, in August 2021, at least 1,50,000 direct employment and an additional 3,00,000 indirect jobs were generated, all of these enterprises have emerged as top job creators.
The production of iPhones in India by contract manufacturers like Foxconn, Wistron, and Pegatron has also made a substantial impact on job growth in the nation.
Together, these manufacturers generated over 77,000 direct employment last year, and at periods of peak production, they intend to add over 10,000 more.
Apple produced nearly ₹1 lakh crore worth of iPhones in India last year, a significant rise from the previous year. This indicates the company’s growing focus on Indian manufacturing. During the most recent earnings call, Apple CEO Tim Cook emphasized the company’s impressive performance in emerging markets, particularly India. He focused on numerous countries where sales figures broke records and double-digit increases were observed.