Benefit: Apple: Will provide direct jobs to 2 lakh people in India by March, including 70% women employees

Manufacturing of Apple products like iPhone in India will open up new avenues of employment. By March next year, Apple will provide 2 lakh direct jobs in India. 70% of them will be for women. Apple and its suppliers in India have given these figures to the central government. Basically, Apple wants to reduce its dependence on China for production and focus on India. Apple's contract manufacturing companies Foxconn, Wistron (now Tata Electronics) and Pegatron directly employed 80,872 people in India at first. Apart from this, suppliers like Tata Group, Cellcomp, Motherson, Foxlink (Tamil Nadu), Sunwoda (Uttar Pradesh), ATL (Haryana) and Jbil (Maharashtra) have together created about 84 thousand direct jobs. Apple's vendors and suppliers provide 1.665 lakh direct jobs since 2020 Apple's vendors-suppliers have created 1.65 lakh direct jobs in India since smartphone PLI (Production Linked Incentive Scheme) in 2020. Apple is continuously increasing the production capacity in India. The central government estimates that for every direct job in the electronics industry, three more indirect jobs are created. It means that 5 to 6 lakh jobs can be created by the end of March from the Apple ecosystem. 1.20 lakh crore iPhone production Kevan Parekh will be Apple CFO, to take over in January Indian-origin Kevan Parekh will be the new CFO of Aval Inc. Parekh is currently Apple's vice president of financial planning and analysis. He will assume office on January 1, 2025. The current CFO Luca Maestri will then become part of the Corporate Services team.

Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).