Brief by Shorts91 Newsdesk / 02:02pm on 27 Oct 2023,Friday India
Tata Group is set to become India's inaugural homegrown iPhone manufacturer for both domestic and global markets after Wistron Corp. agreed to sell its facility, Wistron InfoComm Manufacturing (India) Private Ltd., to Tata for $125 million. The deal is pending confirmation, relevant agreements, and necessary approvals. Union minister Rajeev Chandrashekhar commended Tata for this strategic acquisition, and the Indian government's production linked incentive (PLI) scheme, which has bolstered India's position as a reliable hub for smartphone manufacturing and exports. Tata is also expanding its collaboration with Apple, aiming to launch 100 Apple stores in India.
