Pegatron Will Setup Its First Plant In India:-
Assembly partner Pegatron Corp of iPhone maker Apple Inc. is ready to line up its 1st plant in India. With this, Pegatron has joined the line of Apple’s subsidiaries who wish to set up their plants in India.
An Influx Of Foreign Tech Investment In India:-
The central government had announced a $ 6.6 billion plan to make the country the world’s largest smartphone manufacturing hub. Under this scheme, the government announced to provide financial incentives and ready-to-use manufacturing clusters. Since then, there has been an influx of foreign tech investment in India. Taiwan’s electronics assembler Foxconn Technology Group and Wistron Corp have already set up plants in India. Both of these companies also manufacture iPhone handsets. Foxconn has recently announced a second plant.
Pegatron Is The Second Largest iPhone Assembler Company In The World:-
Pegatron is the second largest iPhone assembler in the world, with several factories operating in China. More than half of Pegatron’s business is dependent on Apple. A Bloomberg report quoted a source familiar with the matter as saying that Pegatron, like Apple’s other subsidiaries, would also set up plants in South India. According to Bloomberg analyst, Foxconn and Wistron are looking to expand their business in India. Therefore, Pegatron also wants to preserve its business by entering India. Pegatron assembles the iPhone SE.
Tech Investment Of More Than 1.5 Lakh Crores In Jio Platforms:-
In recent weeks, the world’s leading tech companies have invested in India. It also includes an investment of $ 20 billion (about Rs 1.5 lakh crore) in Jio platforms. Tech companies like Google, Facebook Inc. have invested thousands of crores in Jio platforms. Apart from this, Google has announced an investment of about Rs 75000 Crore in the next five years in India.