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Search resuls for: "Sriperumbudur"


7 mentions found


☆ India’s economy and elections: Is the hype around Narendra Modi’s vision justified?
  + stars: | 2024-04-16 | by ( Diksha Madhok | Rachel Wilson | ) edition.cnn.com   time to read: +9 min
New Delhi/London CNN —In just a few days, India will commence the world’s largest democratic election. So, is the hype around Modi’s India, which remains a largely impoverished country, justified? The world’s largest biometric database has also helped the government save millions by reducing corruption in welfare initiatives. Domestic investors, both retail and institutional, have been driving India’s stock market to unprecedented peaks. Still, India’s economy, much like its democracy, is far from perfect.
Persons: Narendra Modi, Indranil Mukherjee, Modi, Himanshu Sharma, Guido Cozzi, Arun Sankar, Billionaire Elon Musk Organizations: London CNN —, Getty, CNN, World, University of St, Unified, Bank, ”, National Stock Exchange of India, bourse, Bombay Stock Exchange, NSE, Shenzhen Stock Exchange, Hong Kong Exchange, World Federation of Exchanges, Macquarie Capital, Apple, Foxconn, Billionaire, International Labour Organization Locations: New Delhi, London, India, China, Beijing, Ajmer, Rajasthan, University of St Gallen, Switzerland, Asia’s, Washington, Sriperumbudur, Chennai, Mumbai's Churchgate, AFP
☆ India’s Quiet Push to Steal More of China’s iPhone Business
  + stars: | 2024-02-02 | by ( Alex Travelli | ) www.nytimes.com   time to read: 1 min
It is happening in South Indian industrial areas on muddy plots that were once farmland. In Sriperumbudur, people call Apple “the customer,” not daring to say the name of a company that prizes its secrets. Once finished, each will be a tight block of 13 buildings with 24 rooms per floor around an L-shaped hallway. Every one of those pink-painted rooms will have beds for six workers, all women. It’s a ready-made scene from Shenzhen or Zhengzhou, the Chinese cities famous for their iPhone production prowess.
Persons: ”, It’s Organizations: Apple Locations: India, China, Shenzhen, Zhengzhou
☆ Hyundai Motor's unit to buy General Motors' India plant
  + stars: | 2023-08-16 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsBENGALURU, Aug 16 (Reuters) - Hyundai Motor Co's (005380.KS) Indian unit will buy automaker General Motors' (GM.N) Talegaon plant in the western state of Maharashtra, a move that will allow the U.S. automaker to exit the country as well increase Hyundai's annual production. Through its Sriperumbudur facility outside Chennai city and now the Talegaon plant, Hyundai aims to increase its cumulative production capacity to one million units per year, it said on Wednesday. The company had a production capacity of 820,000 units in the first half of this year. The South Korean firm said it intends to upgrade the existing infrastructure at the Talegaon unit and start manufacturing in 2025. The plant currently has an annual production capacity of 130,000 units.
Persons: Wolfgang Rattay, Ashish Chandra, Sonia Cheema Organizations: Hyundai, REUTERS, Rights, General Motors, U.S, GM, Kia, Thomson Locations: Munich, Germany, KS, Maharashtra, Chennai, India, Bengaluru
☆ iPhone 15 production begins in India as Apple aims to diversify from China: Report
  + stars: | 2023-08-16 | by ( Lauren Feiner | ) www.cnbc.com   time to read: +2 min
Apple supplier Foxconn is beginning production of the iPhone 15 in India as the company moves forward with its effort to diversify its manufacturing from China, Bloomberg reported Wednesday. Foxconn's Sriperumbudur plant is getting ready to deliver the new phones weeks after they begin shipping from China-based factories, Bloomberg reported, citing unnamed sources. After a meeting with India Prime Minister Narendra Modi at the White House this year, Apple CEO Tim Cook told CNBC that India represents a "huge opportunity." Apple has more recently ramped up iPhone production in India, assembling more than $7 billion worth there in the last fiscal year, Bloomberg earlier reported. Prior to that, iPhone assembly in India lagged China by six to nine months, Bloomberg reported, but that gap has significantly closed.
Persons: Sundar Pichai, Tim Cook, Narendra Modi, Foxconn's, Biden, Pegatron Organizations: Apple, Washington , D.C, Foxconn, Bloomberg, U.S, India, CNBC, Tata Group, YouTube Locations: Washington ,, India, China, iPhones
☆ Apple supplier Foxconn breaks ground on $500 million India factory
  + stars: | 2023-05-15 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com   time to read: +1 min
(Photo by Arun SANKAR / AFP) (Photo by ARUN SANKAR/AFP via Getty Images)Taiwan-based Foxconn has broken ground on a new $500 million factory in the Indian state of Telangana just under a month after Apple CEO Tim Cook met with Indian Prime Minister Narendra Modi. Foxconn is one of Apple 's largest suppliers and directly produces a reported 70% of the world's iPhone supply. The new Telangana factory will employ 25,000 workers "in the first phase," according to a tweet from the government of Telangana. Foxconn did not immediately respond to a request for comment on the discrepancy on when a deal was reached. Bloomberg previously reported on Foxconn's effort to build another factory in the Indian state of Karnataka, just outside of Bengaluru.
☆ Apple wants to manufacture 25% of its iPhones in India, minister says
  + stars: | 2023-01-23 | by ( Arjun Kharpal | ) www.cnbc.com   time to read: +1 min
Apple is looking to manufacture 25% of all of its iPhones in India, the country's commerce minister said Monday. Apple has been manufacturing iPhones in India since 2017, but these were usually older models. JPMorgan analysts said in a note from September that Apple could make 25% of all iPhones globally in India by 2025. Apple has been looking to diversify production away from China, where it currently makes the bulk of its iPhones. Apple has just a 5% market share in India's smartphone market, but CEO Tim Cook has long-seen India as a potential area for growth.
☆ Apple begins making the iPhone 14 in India, marking a big shift in its manufacturing strategy
  + stars: | 2022-09-26 | by ( Arjun Kharpal | ) www.cnbc.com   time to read: 1 min
A view of the new iPhone 14 at an Apple event at their headquarters in Cupertino, California, September 7, 2022. Apple said Monday it is assembling its flagship iPhone 14 in India as the U.S. technology giant looks to shift some production away from China. "The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities. We're excited to be manufacturing iPhone 14 in India," Apple said in a statement. This time with the iPhone 14, Apple is manufacturing its latest model in India for the first time, close to the device's launch.
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