20 April 2024 – Tata Group is allegedly finalizing negotiations to buy a majority share in Pegatron India. Bloomberg sources said the acquisition might close in May. After the deal, Tata Group will operate Pegatron’s Indian operations, while the Taiwanese major may provide manufacturing expertise.
Previous reports stated Tata would own at least 65% of a joint venture (JV) between the two corporations.Five months earlier, Tata acquired Wistron’s Karnataka manufacturing facility, becoming one of Apple’s suppliers.Megatron’s Chennai plant produces 5 million iPhones annually and employs 10,000 workers.
Apple has swiftly expanded its manufacturing operations in India and diversified its manufacturing operations in China. The persistent geopolitical tensions between Washington, DC, and Beijing are to blame. Apple was reportedly exploring transferring at least half of its supply chain from China to India earlier this month.
Conclusion
Apple’s move to India is driven by the union government’s production-linked incentive (PLI) subsidies. As a result, Foxconn and Jabil are also heading to India. Apple was also reportedly in advanced talks with Murugappa Group and Tata Group-backed Titan last week to assemble and perhaps manufacture iPhone camera module subcomponents. Thus, iPhone manufacture has increased in the country.
SOURCE: Link
