Deadly Attack Targets Chinese Engineers in Pakistan
Amid a surge in violence targeting Chinese interests, a devastating suicide bombing struck a convoy of Chinese engineers in northwestern Pakistan, claiming the lives of six individuals
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
Apple plans to increase the share of its products manufactured in India to 25%. This was reported by Reuters, citing a statement by India's commerce minister on January 23.
Emphasizing that many large companies have chosen the promising Indian market, Piyush Goyal said: "Apple is another success story. They already produce 5-7% of their products in India. If I am not mistaken, they want to increase this share up to 25%. Their latest models have been launched in India."
Minister Goyal did not specify the time frame in which Apple intends to realize these goals.
The trend to pull production out of China amid a slowing economy and rising tensions has been particularly strong recently. India, as well as Vietnam and Taiwan, are among the countries where major IT corporations are moving their Chinese production. According to India's Minister of Electronics and Information Technology, Apple's exports to India alone totaled $1 billion in December. Apple started manufacturing in India in 2017, selecting Wistron and Foxconn as contractors. Meanwhile, Foxconn intends to quadruple the number of workers at its iPhone manufacturing plant in India over the next two years. JP Morgan estimates that by 2025, 25% of Apple products will be manufactured outside of China.
Follow Novinite.com on Twitter and Facebook
Write to us at editors@novinite.com
Информирайте се на Български - Novinite.bg
/BGNES
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Russian President Vladimir Putin declared that Russia has no intention of attacking NATO countries such as Poland, the Baltic states, or the Czech Republic
Israeli Prime Minister Benjamin Netanyahu has requested a meeting with the White House to discuss an upcoming ground operation in Rafah, situated in the southern part of the Gaza Strip
Russian forces have launched a devastating drone attack across the entirety of Ukraine, leaving a trail of destruction and casualties in its wake
The European Prosecutor's Office in Sofia has taken legal action against an individual suspected of fraudulent activities involving European subsidies, as announced by the Luxembourg-based institution
German arms manufacturer Rheinmetall has secured a substantial financial boost from the European Union, receiving over 130 million euros to enhance its ammunition production capabilities
Eurostat's recent publication on Wednesday showed insights into hourly labour costs across the European Union (EU) in 2023, indicating a notable rise compared to the previous year
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022