As Apple prepares to move its manufacturing operations to India, the tech giant headquartered in Cupertino may have found a worthy partner to assist it in this endeavour.
Homegrown industry leader Tata Group is now looking to invest in Apple's creation of manufacturing in India.
Latest media reports suggest that the Tata Group will spend Rs 5,000 crore to set up a facility to produce Apple components. The BusinessLine article mentions that the group has already allocated 500 acres to TIDCO (Tamil Nadu Industrial Development Corporation) for the Hosur manufacturing plant.
The land was transferred to a new Tata Group entity named Tata Electronics. According to the study, the facility was initially planned to be located in either of the two states, Karnataka and Tamil Nadu, with the latter eventually beating the project first. The study mentions that Bhoomi Pujan, the inauguration event of the land for the facility, was performed on 27 October.
While both Tata and TIDCO have still not issued an official development announcement, the report highlights significant plans for the manufacturing plant.
It says that Tata's production plant will have 18,000 employees before October next year. Interestingly Until set up, Tata Group 's activities in the plant will theoretically be scaled up with more investment in the facility. The stated expansion could be to the point of Rs 8,000 crore., a total of 90% of this workforce would be women.