Tata Group takes over Wistron’s India operations to manufacture iPhones
In a significant move for the electronics manufacturing sector, the Tata Group has officially acquired the operations of Wistron in India. This acquisition lays the foundation for the Indian conglomerate to commence the production and assembly of Apple iPhones in India, targeting both local and international markets. Union Minister Rajeev Chandrasekhar unveiled this development on the social media platform X, lauding the move.
He mentioned, “Within just two and a half years, Tata Group will now start making iPhones from India for domestic and global markets from India. Congratulations to the Tata team for taking over Wistron’s operations.”
Detailed Insights from Wistron’s Press Release
Accompanying Minister Chandrasekhar’s announcement was an official press release from Wistron. The document stated that the company conducted a board meeting where it authorized its subsidiaries, SMS InfoComm (Singapore) Pte. Ltd. and Wistron Hong Kong Limited, to ink the share purchase agreement with Tata Electronics Private Limited (TEPL). This agreement pertains to the sale of Wistron’s complete indirect stake in Wistron InfoComm Manufacturing (India) Private Limited.
The release further elaborated, “Upon confirmation and signature of the relevant agreements by both parties, the deal will proceed to obtain the necessary approvals. Following the completion of the transaction, Wistron will make the required announcements and filings in accordance with applicable regulations.”
With this move, Tata Group notably emerges as the inaugural Indian enterprise to produce iPhones within the nation.
Broader Perspective on Electronics Manufacturing in India
Highlighting the broader implications, Chandrasekhar credited Prime Minister Narendra Modi for the “visionary PLI scheme”. He asserted that this initiative has catapulted India into the role of a “trusted and major hub for smartphone manufacturing and exports”. He further elaborated, “The Government of India, represented by the Ministry of Electronics and Information Technology (MeitY), stands fully in support in growth of Global Indian Electronics companies that will in turn support global Electronic brands that want to make India their trusted manufacturing & talent partner and to realize the PM’s goal of making India a global electronics power.”
This event not only symbolizes a paramount achievement for the Tata Group but also underscores India’s escalating prominence in the domain of global electronics manufacturing.