If the deal is cracked, Kalyani Group’s Bharat Forge will join the group of Indian giants like Tata Group, Motherson Group and Aequs to be part of Apple’s supply chain network
Apple is holding talks with Kalyani Group’s Bharat Forge for manufacturing components, including mechanics for the iPhone maker in India, according to Economic Times. The development comes at a time when Apple is making strides to move away from China and strengthen India as its manufacturing base.
“Apple is looking to work with some of the biggest Indian companies and talks have commenced with Bharat Forge, located in Pune, Maharashtra,” the Economic Times reported, citing a source.
If the deal is cracked, Kalyani Group’s Bharat Forge will join the group of Indian giants like Tata Group, Motherson Group, and Aequs, who have already formed partnerships to boost manufacturing in India. Bharat Forge, is an Indian manufacturing giant, operating across sectors like automotive, energy, aerospace and defence.
Last year, Tata Electronics Private Limited (TEPL) started a joint venture with Pegatron, which is the second largest iPhone component manufacturer in India after Foxconn, to supply components for American giant. After the Tata Group, Noida-based Motherson Group became the second major Indian conglomerate to have joined the iPhone maker’s supply chain network. The Motherson Group was reportedly forging a partnership with Hong Kong-based BIEL Crystal Manufactory to jointly manufacture Apple components in India.
Apple’s rapid expansion and partnership with Indian giants come at a time when the iPhone maker’s India operations reportedly increased up to Rs 2 lakh crore in financial year 2023-24 compared to Rs 1.15 lakh crore in FY2022-23. India’s total contribution to Apple’s overall production doubled to 14 per cent in FY24 from 7 per cent in FY23, according to a report by ET.
Post the FY24 results, Apple’s CEO Tim Cook highlighted that India is a key market for the American giant.
“I see it as an incredibly exciting market and it’s a major focus for us,” said Tim.
Apple’s efforts to expand in India have also got a boost because of the government’s production-linked incentive (PLI) scheme, launched in 2020.