Apple may create 2 lakh jobs in India this financial year

Tech giant Apple's increasing focus on India, as it diversifies from China, is expected to generate a significant number of jobs in the country. According to a recent report by The Economic Times, Apple's local ecosystem could lead to the creation of more than 6,00,000 jobs in India. Livemint could not independently verify this news development.

2 lakh jobs in this financial year

The report suggested that by the end of the current financial year, Apple may add approximately 2,00,000 direct jobs, with women constituting over 70 percent of this workforce. Government projections cited in the report indicate that each direct job typically results in at least three indirect jobs, potentially leading to a total of 500,000 to 600,000 new employment opportunities.

This development coincided with reports of Apple ramping up its manufacturing capabilities in India. Bloomberg News has reported that the company has initiated training programmes for thousands of workers at its Tamil Nadu factory. The goal is to produce the iPhone 16 Pro and Pro Max versions as close to their global release date as possible.

Additionally, there are indications that Apple plans to assemble its high-end Pro and Pro Max models of the upcoming iPhone 16 series in India for the first time. This production will reportedly be carried out through Apple's partner, Foxconn Technology Group, at their Sriperumbudur facility in Tamil Nadu.

`It's Glowtime'

The technology community is eagerly anticipating the launch of the iPhone 16 series. Apple has officially announced the event with the tagline 'It's Glowtime', scheduled for September 9. Industry observers expect the unveiling of four new iPhone 16 models during this event.

Meanwhile, Apple named insider Kevan Parekh as its chief financial officer. Mr  Parekh replaced company veteran Luca Maestri. The leadership change comes ahead of Apple's multiple product launches this fall season, which analysts have called the biggest software upgrade for the iPhone.

It includes artificial intelligence features, which are crucial for Apple as it looks to reverse a slowdown in global sales, particularly in China, and better compete with rivals who have rolled out AI upgrades.

                                                     (By arrangement with livemint.com)