INDIA PHONE MANUFACTURING
US, India fast-track $500 bn trade deal as JD Vance visits amid global tariff unrest
Amidst US-China trade tensions and reciprocal tariffs, Vice President JD Vance's visit to India underscores the urgency of finalizing the Bilateral Trade Agreement (BTA). Both nations aim to boost trade to $500 billion by 2030, focusing on energy, defense, and technology.
Apple shares fall 5% as buyback cuts, tariff fears fan investor jitters
Apple shares fell 5% on Friday after the company trimmed its stock buyback program and CEO Tim Cook flagged a $900 million tariff-related hit to costs this quarter amid a raging Sino-U.S. trade war.
Most iPhones sold in US in June quarter to come from India, says Apple CEO Tim Cook
Apple plans a major shift in its supply chain. Most iPhones sold in the US will come from India by June 2025. Vietnam will be the origin for most iPads, Macs, Apple Watches, and AirPods. This move aims to reduce costs from US tariffs. China will remain the main source for sales outside the US.
Repairability index on anvil to help consumers take informed decision on buying smartphones, tablets
A government panel has proposed a repairability index for smartphones and tablets, aiming to empower consumers with informed purchasing decisions. Modelled after energy efficiency ratings, the index will rate devices on a five-point scale based on factors like spare parts availability and ease of disassembly. This initiative follows analysis of consumer complaints and aligns India with global repairability standards.
Apple girds for more trade war pain, trims buyback
Apple trimmed its share buyback by $10 billion and warned tariffs could add $900 million in costs this quarter. CEO Tim Cook outlined supply chain shifts and increased US investment. While quarterly results beat expectations, shares fell as margins face pressure and Apple braces for uncertainty in a volatile global market.
These large- and mid-cap stocks can give more than 30% return in 1 year, according to analysts
There are two ways to approach the stock markets when there is a high element of uncertainty. One, sit it out. Or two, learn how to navigate volatility. If you are focused on learning how to navigate volatility, then you should also focus on diversification. A smart approach is to identify businesses with strong fundamentals, long-term growth potential, and the ability to adapt to global shifts which will gather strength in the years to come.
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ETtech Explainer: Inside India's iPhone dreams — The story so far
Amidst Trump's tariffs impacting China, Apple is increasing iPhone manufacturing in India, leveraging Foxconn and Tata Electronics. While a complete US shift is unlikely due to cost, India's iPhone exports surged in FY25. Meanwhile, potential delays from China in allowing production to move out complicate Apple's diversification push.
India’s AI job boom; Hackers fuel Indo-Pak fire
Happy Thursday! Hiring in artificial intelligence (AI) roles is set to grow this fiscal, bucking tech industry trends. This and more in today’s ETtech Morning Dispatch.
Apple exports 97.6% of iPhones to US from India amid tariffs: Report
With Beijing retaliating against the US action, the reciprocal tariff on China has gone up to 245% for some products. However, consumer electronics items including smartphones and laptops have been exempted from reciprocal tariffs. The Trump administration will announce special tariffs for these products, sometime in May.
Dixon Technologies forms joint venture with Inventec to enhance IT hardware manufacturing in India
Dixon Technologies partners with Inventec, a Taiwan-based ODM, to form Dixon IT Devices Private Ltd. Dixon will hold 60% stake in the joint venture, which aims to manufacture notebook PCs, servers, desktops, and PC components in India. This collaboration seeks to leverage Inventec's design capabilities and access to global markets, aligning with India's electronic component manufacturing scheme.
Short-term challenges for IT and Metals, but consumer and financial sectors offer upside: Rana Gupta
Rana Gupta of Manulife Investment suggests India's financial markets are navigating a volatile period. The next 90 days are crucial as global trade rebalances. While tariff finality may come, corporate adjustments will bring uncertainty. Sectors like IT and metals face headwinds. Consumer and financial sectors may see revival due to policy support and lower crude oil prices.
New Tata plant starts iPhone production, Foxconn close behind as Apple looks to India, sources say
Apple has begun iPhone production at a new Tata Electronics plant in Tamil Nadu, with another Foxconn facility in Bengaluru set to start shipments in May. As US-China trade tensions rise, Apple is accelerating its shift to India, targeting major production relocation by 2026.
Foxconn India revenue rises to over $20 billion, employee count up at around 80,000
Foxconn more than doubled its India revenue to over $20 billion in FY 2024-25, driven by iPhone production. Its workforce grew 65% to 80,000. The firm is expanding with major investments in manufacturing, AirPods, and semiconductors, anticipating continued rapid growth.
How to check the purity of gold jewellery using the government’s BIS app; Step-by-step easy guide
BIS: It is very important to check for hallmark of gold jewellery while buying them, as if the jewellery has less pure gold or fake gold then the entire investment could result in loss. Hence to make consumers aware of this the government has an app by BIS which can be found in the play store and App store. The name of the app is: BIS CARE.
New players in UPI sweepstakes; Urban Company’s IPO papers
Happy Tuesday! In the longstanding UPI battle, fresh players are giving incumbents a tough fight. This and more in today’s ETtech Morning Dispatch.
Indian apps don't fall far from Apple tree
Indian developers are generating revenue for Apple's App Store. This strengthens Apple's engagement in India. India's e-commerce market and US-China trade tensions influence Apple's strategy. Apple's diversification to India is proving beneficial. The app ecosystem thrives due to digital transactions. This success mitigates concerns about app store pricing. India contributes to Apple's hardware, software, and talent pool.
These large-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of more than 31%
This is an undeniable fact. Most investors who have Rs. 1 lakh to invest would prefer to buy 5,000 shares of a small-cap company rather than put the same amount in Reliance and own just 73 shares. Or a Larsen and Toubro for just 30. Most investors also want the rapid returns that small- and mid-cap stocks seem to offer. We have, of course, nothing against small- and mid-caps. Some of them may indeed do well. Though many may not. The greater probability, however, is that, in the long term and from current levels, large-caps like RIL and LT may give higher returns and see less drawdown in volatile markets.
India will be fiercely competitive on many products due to comparative matrix of tariffs: Jyotiraditya Scindia
Union Minister Jyotiraditya Scindia asserts India's competitive edge despite global tariffs, attributing it to a vast domestic market, economies of scale, and innovation focus. He highlights India's favorable position in a comparative tariff matrix, anticipating increased competitiveness across various products. Scindia emphasizes India's economic transformation, projecting it to become the third-largest economy by 2028, driven by manufacturing and export growth, particularly in mobile phone production.
India will be fiercely competitive on many products due to comparative matrix of tariffs: Scindia
Jyotiraditya Scindia says India will remain competitive despite global tariffs. He cites India's large domestic market and innovation focus. Scindia notes India's favorable tariff position compared to other nations. He expects India to become more competitive across various products. India's economy is growing rapidly. It is projected to be the third-largest by 2028.
Norms unveiled to fire up electronics parts manufacturing in India
Companies with local design teams and ‘six sigma’ quality will be major factors in evaluating applications, said union electronics and information technology minister Ashwini Vaishnaw. The government expects the scheme to attract Rs 59,350 crore in new investments, create around 91,600 direct jobs, and enable production worth Rs 4,56,500 crore.
WTO gives Taiwan, India more time on IT duty dispute
India and Taiwan get more time on import duty dispute. The World Trade Organization (WTO) has accepted their request. They wanted to delay the ruling on import duties. These duties are on certain information and technology products. This is the seventh time the decision is postponed. The dispute started in 2019. Japan, the EU, and Taiwan challenged India's import duties.
Apple plans to ramp up iPhone production in India to accelerate manufacturing shift from China
Apple intends to significantly increase iPhone production in India. This move aims to shift manufacturing away from China. The goal is to mitigate business risks from the Sino-US trade situation. India's iPhone output could rise to 70-80 million by 2026. India may become a key iPhone supplier to the US. Government support will be crucial for this expansion.
Apple’s India pivot; Cloud, AI fuel Alphabet's gain
Apple is seeking to assemble all iPhones sold in the US in India by next year, the Financial Times reported. This and more in today’s ETtech Top 5.
Apple aims to source all US iPhones from India in shift away from China: FT report
In a pivot away from China amid Trump's trade war, Apple is looking to move assembly of all US-sold phones to India. China, where Apple manufactures most of its iPhones, has been hit the heaviest with tariffs by Trump administration. The tech major has been steadily building capacity in India with contract manufacturers Tata Electronics and Foxconn.
Samsung may shift production from Vietnam to India, seeks one more year of PLI sops in lieu of FY22
Samsung has requested an additional year for production-linked incentive (PLI) benefits after missing targets in the second year of the scheme. The company seeks to complete its full five-year tenure and potentially receive around ?3,200 crore in incentives. Amidst trade tensions, Samsung is also exploring diversifying its production from Vietnam to India, aiming to reduce reliance on a single location.
Pixel moves to India; A91's largest fund
In the wake of US tariffs, Google is shifting Pixel manufacturing from Vietnam to India. This and more in today’s ETtech Top 5.
Vietnam stole a march on India. It's India's time now
Alphabet is planning to shift some Google Pixel production from Vietnam to India, aiming to de-risk amid US tariff threats. This marks a significant turn, as Vietnam had been the biggest winner of the “China Plus One” strategy after Covid disrupted Chinese supply chains. The move signals India’s growing role in global electronics manufacturing, especially for US-bound devices.
Alphabet Inc shifts Google Pixel production from Vietnam to India amid US tariff concerns
Alphabet is in discussions with Dixon Technologies and Foxconn to shift Google Pixel smartphone production to India, particularly for US-bound devices, due to potential tariffs on Vietnam. The company aims to mitigate sourcing risks and is exploring localizing components within India.
Donald Trump tariffs marginally favourable for Indian smartphone exports: Crisil
Going forward, there could be adverse effects, though. As tariffs push up inflation in the US, consumer spending on smartphone purchases could fall. As per data from the US International Trade Commission, the US imported the most number of smartphones from China, slightly north of 81% by value in 2024, while India and Vietnam were a very distant second and third at 13.7% and 4.2%, respectively.
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