CURRENT AFFAIRS

Detailed explanation-1: -The deal will reportedly be completed by March-2023 end. Tata Group reportedly close to acquiring the Wistron Corp’s iPhone factory in Karnataka in a deal reportedly worth Rs 4000-5000 crore.

Detailed explanation-2: -Currently, Apple’s iPhones are produced in India by its contract manufacturers – Foxconn, Wistron and Pegatron. Apple began manufacturing the latest iPhone 14 variants in India within weeks of its global launch. It further claimed to move 5% of the global manufacturing demand to India by the end of 2022.

Detailed explanation-3: -"Apple’s iPhone is now getting made in India and it’s the biggest plant in India is being set up at Hosur near Bengaluru. 60, 000 people work in a single factory. The first 6, 000 employees of these 60, 000 employees are our tribal sisters from places nearby Ranchi and Hazaribagh.

Detailed explanation-4: -Foxconn already assembles Apple devices in its Chennai plant and Apple has widened its production capability through Foxconn and Wistron. According to a report from Counterpoint Research, locally manufactured iPhones in India grew 196 per cent YoY in 2021.

Detailed explanation-5: -Wistron began making iPhones in India in 2017, after years of efforts by Apple to add manufacturing capabilities in the country. The Taipei-based company currently assembles iPhones at its plant in the state of Karnataka in southern India.