Tata Group Invests Rs 5000 Crore To Make iPhone Parts In India: Report

As Apple plans to shift its manufacturing operations to India, the Cupertino-based tech giant might have found a worthy partner to help it with the endeavour.

Homegrown industry major Tata Group is now looking to invest in this Apple¡¯s pursuit of manufacturing in India.

Reuters

New media reports indicate that Tata Group will invest Rs 5,000 crore to come up with a facility that will manufacture components for Apple. A report by BusinessLine mentions that the group has already been allotted 500 acres by TIDCO (Tamil Nadu Industrial Development Corporation) for the manufacturing plant in Hosur.

The land has been allotted to a new entity of Tata Group called Tata Electronics. As per the report, the facility was initially destined to be in any of the two states - Karnataka and Tamil Nadu, with the latter eventually beating the first to the project. The report mentions that the Bhoomi Pujan, an inauguration ceremony of the land for the facility, was held on October 27.

Make in India iPhone?

(Representative Image: Reuters)

Though both Tata and TIDCO have not released an official statement on the development yet, the report highlights big plans for the manufacturing plant.

It says that the manufacturing plant by Tata will have 18,000 employees by October next year. Interestingly, a total of 90 percent of this staff will be women.

Since Apple already has Foxconn making iPhone models for it within India, the new plant by Tata seems to be focused towards iPhone components instead of overall smartphone assembly and manufacturing.

Once set up, the operations in the plant by Tata Group will potentially be scaled up with further investment in the facility. The reported expansion might be to the point of Rs 8,000 crore.

Titan Engineering and Automation (TEAL), a unit of Titan, will oversee the establishment of the production facility, the report mentions.