The news that 14 of Apple Inc’s 17 key Chinese suppliers have received clearance from key Indian ministries to set up operations in India, but only via domestic partnerships, should be considered an encouraging development when set against the state of play in manufacturing growth and foreign direct investment in India. Those who have got the approval include AirPods and iPhone assembler Luxshare Precision Industry, lens maker Sunny Optical, and laser-equipment manufacturer Han’s Laser Technology. Most of these are global leaders in high-tech electronic-component supply and stalwarts of Chinese national industry. Their presence underlines the promise of India’s emergence as an alternative factory to the world as global majors seek to diversify from Covid- and slowdown-hit China.
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First Published: Wed, January 25 2023. 22:41 IST