Apple Inc is aiming to expand its manufacturing base in India and take the country’s share to 25% of its global manufacturing, union minister for commerce and industry Piyush Goyal said on Monday.
“Apple already has about 5-7% of its manufacturing in India. They are targeting to go up to 25% of their manufacturing here. They launched their most recent models from India, manufactured here,” said Goyal.
Addressing the inaugural ceremony of the ‘B20 India Inception Meeting’ held under the auspices of the G20 at the Mahatma Mandir in Gandhinagar, Goyal said India offers “transparent policies” and a “conducive business” environment.
Apple’s iPhone is now being made in India and its biggest plant is being built in Bengaluru. The company gets iPhones manufactured by Foxconn, Wistron and Pegatron in India.
Citing the example of a British manufacturer of earth moving materials’ foray into India a few years ago, he said businesses that come to India have always succeeded because of its competitiveness.
“Thanks to their ability to launch newer products, they’re supplying to 110 countries around the world from India at affordable competitive prices. Many of their new launches are also from India,” the minister said.
Further hailing the transparent policies of the Indian government, Goyal said a conducive business environment that encompasses transparent government policies and business models is helping global firms make the country their manufacturing base in India.
“India offers rule of law. We don’t have opaque business models or hidden subsidies. We haven’t done anything that is not known to the public at large,” he said. “Prime Minister Narendra Modi has set the bar high and, therefore, we have an opportunity in B20 as we work together.”
He expressed hope that by August this year, India will have a robust framework for B20.
N Chandrasekaran, chairman of Tata Sons, in his address, reiterated the priorities identified for B20 India, mentioning that sustainability, energy transition, mobility, biodiversity, water management and UN SDGs will be focused upon.
Highlighting the track record of India concerning digital transformation and the deployment of digital infrastructure development programmes and public services delivery, he said, the G20 presidency is an opportunity for India to showcase and share best practices, as well as work towards developing specific recommendations on bringing equality using digital transformation.
Amitabh Kant, India’s Sherpa to the G20, said that the G20 and all its engagement groups must be “inclusive, ambitious, decisive, and action-oriented”. Some of the biggest challenges soon will be digital transformation, climate financing, and decoupling and de-monopolising global value chains to make them more resilient, he added.
While protection of individual data is a good move, it also acted as a pushback against innovation, electronics and IT minister Ashwani Vaishnaw said. “We needed a template for individual rights and good for society, but also that pushes innovation. It is a difficult balance,” he said.
India assumed the G20 presidency on 1 December. Established in 2010, B20 is among the most prominent engagement groups in the G20, with companies and business organizations as participants.
B20 will operate through seven task forces and two action councils entrusted to develop consensus-based policy recommendations for the G20.
Source- Hindustan Times.
