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☆ Is the iPhone's 'Made in India' era beginning as Apple breaks with China?
▼ + stars: | 2023-02-10 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

Minister of Commerce and Industry Piyush Goyal said Apple was already making between 5% and 7% of its products in India. His comments come at a time when Foxconn (HNHPF), a top Apple supplier, is looking to expand its operations in India after suffering severe supply disruptions in China. For years, Apple had relied on a vast manufacturing network in China to mass produce iPhones, iPads and other popular products. China headaches mountBut the world’s most valuable company posted shockingly weak earnings this month, partly because of its recent problems in China. According to Counterpoint’s Pathak, India accounts for 16% of the global smartphone production, while China constitutes 70%.

☆ Apple targets raising India production share to up to 25% - minister
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, Jan 23 (Reuters) - Apple Inc (AAPL.O) wants India to account for up to 25% of its production from about 5%-7% now, the trade minister told a conference on Monday, as the iPhone maker continues to move its manufacturing away from China. "Apple, another success story," Piyush Goyal said, pitching India as a competitive manufacturing destination. Goyal did not say when Apple wants to meet the target. Foxconn plans to quadruple the workforce at its iPhone factory in India over two years, sources told Reuters late last year. Ashwini Vaishnaw, Indian's electronics and information technology minister, tweeted on Monday that Apple's exports from India had hit $1 billion in December.

☆ 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.

☆ India, U.S. establish new trade group to bolster supply chains
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +1 min

[1/2] U.S. Trade Representative Katherine Tai and India's Minister of Commerce and Industry, Piyush Goyal, poses for a picture before the start of their meeting in New Delhi, India, November 22, 2021. REUTERS/Adnan Abidi/PoolNEW DELHI, Jan 12 (Reuters) - India and the United States have established a new working group to build sustainable supply chains and boost bilateral trade, the governments said in a joint statement on Thursday. The United States will also consider India's interest in the restoration of beneficiary status under the U.S. generalized system of preferences program, the statement added. The Trade Policy Forum, revived in 2021 after a gap for four years, will reconvene on a ministerial level before end of 2023. The two countries said they mean to continue to work together on resolving outstanding trade issues.

REUTERS/Amit Dave/File PhotoSummary India to save nearly $20 billion over 12 monthsEnding pandemic-era free food programme may cool pricesIndia to provide already highly subsidised food for freeNEW DELHI, Dec 23 (Reuters) - India will end its COVID-19 era free food programme on Dec. 31 and replace it with a cheaper programme that will save the government nearly $20 billion in the next 12 months. Late on Friday, India's Food and Trade Minister Piyush Goyal said the government will stop the free food programme after 28 months as the economic situation has improved since COVID-19 cases and restrictions have eased. The programme provided poor families with 5 kg (11 lb) of foodgrains each month in addition to other highly subsidised foodgrains. Now the government will make the highly subsidised foodgrain free for the next 12 months, Goyal said. The government will save at least $20 billion over the next 12 months by ending the pandemic-era free food programme, as they will only spend on one food scheme instead of multiple programmes, according to an official, who did not want to be named.

☆ British trade minister heads to India to kick off new round of trade talks
▼ + stars: | 2022-12-11 | by ( ) www.reuters.com time to read: +3 min

LONDON, Dec 11 (Reuters) - British trade minister Kemi Badenoch will hold her first face-to-face meeting with her Indian counterpart on Monday in New Delhi in an effort to spark life into talks over a free trade agreement (FTA) between the countries. Former Prime Minister Boris Johnson in April set an ambitious target to agree an FTA with India by Diwali in October. New Prime Minister Rishi Sunak has said he is committed to getting a deal with India but won't sacrifice quality for speed, in a change of tone compared to Johnson. Badenoch, who was appointed to her role in September, will meet Indian Trade Minister Piyush Goyal and address the negotiating teams before the round of talks begins. We applaud the Secretary of State and Prime Minister for listening and prioritising substance over pace," said Andy Burwell, International Director at the Confederation of British Industry.

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