According to staffing business TeamLease Services, with Apple’s increased focus on India, the corporation is anticipated to be a major driver of job growth in FY24 with 120,000 new positions.
Out of these, 120,000 might be direct employment and 80,000 indirect, with manufacturing providing the bulk of indirect employment and retail providing the smallest amounts.
The staffing company additionally disclosed to the daily that it is projected that by FY26, at least 300,000 new employees may be added, of which 100,000 might be direct and 200,000 indirect.
According to ET’s interview with the company’s CEO, Karthik Narayan, 1 lakh new jobs would be created in the ensuing 36 months thanks to the planned construction of additional factories and facilities.
Apple phones will be produced in a new 300-acre factory in Karnataka, according to an announcement made last week by India’s electronics and IT minister, Rajeev Chandrasekhar. After Hugues Asseman, the company’s vice president in charge of India, the Middle East, the Mediterranean, East Europe, and Africa, recently retired, the decision was made to make the change. With his departure, the iPhone manufacturer is elevating Ashish Chowdhary, who oversaw operations in India and reported to Asseman. Michael Fenger, Apple’s vice president of product sales, will now be Chowdhary’s immediate boss.
Although the company’s overall revenues decreased by 5%, India saw record sales during the most recent quarter. Apple plans to open its first physical stores in the country later this year after creating an online store to serve the region.
The company is “putting a lot of emphasis on the market,” according to chief executive officer Tim Cook, who also compared the current condition of operations in India to those in China in the company’s early years.
In essence, he explained, we are adapting the scaling strategies we developed for China years ago. With yearly sales of around $75 billion, China ranks third on Apple’s sales map after the Americas and Europe.
India is becoming more crucial to Apple’s product development in addition to being a major source of sales for the firm. Crucial suppliers are relocating to the area, and according to Bloomberg News, Apple is collaborating with its manufacturing partner, Hon Hai Precision Industries Co., popularly known as Foxconn, to establish new iPhone production facilities in the nation.
Recently, Karnataka’s labor law regulations were considerably loosened thanks to lobbying by Apple and its manufacturing partner, Foxconn. According to the Financial Times, which cited knowledgeable sources, this historic legislation sparked modifications that permit women to work 12-hour shifts and nights, which is comparable to how Chinese businesses operate.
Following months of COVID-19 disruption that had an impact on global supply chains, this new law offers one of the most flexible working environments in India, which is trying to establish a new manufacturing base.
The state amended the factories’ legislation to allow for 12-hour shifts and to relax the restrictions on women working at night. The Act sets the maximum number of working hours at 48 per week and raises the number of extra hours that are permitted from 75 to 145 over a three-month period.
The largest Apple iPhone production facility in India will be located in Hosur, Bengaluru, according to Telecom and IT Minister Ashwini Vaishnaw’s remarks from November of last year. Also, he had stated that 60,000 employees would work at the largest iPhone production facility.