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News on Medial
Apple seeks Indian suppliers, begins talks with Bharat Forge for component manufacturing: Report | Mint
Livemint
·
6m ago
Medial
Apple is reportedly in discussions with Kalyani Group's Bharat Forge to become a local supplier in India for component manufacturing. If successful, Bharat Forge would join other Indian companies like Tata Group, Motherson Group, and Aequs in supporting Apple's supply chain. This move aligns with Apple's strategy to strengthen its manufacturing base in India by cultivating more local vendors, emphasizing the growing significance of the Indian market for Apple's broader manufacturing and supply chain operations.
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Related News
Gunning for growth: Inside Bharat Forge’s defence bets
Livemint
·
1y ago
Medial
Bharat Forge, a leading auto component maker in India, has invested over ₹700 crore ($94.7 million) in designing and developing weapons, guns, armoured vehicles, and ammunition. The company aims to prove that India is capable of manufacturing its own defence equipment. With a shift in India's arms procurement strategy towards local production, Bharat Forge is primed for growth in the defence sector. The company expects its defence business to become its biggest source of revenue in the coming years. Bharat Forge has a diverse product portfolio including artillery, armoured vehicles, ammunition, missiles, and naval/marine applications.
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Apple In Talks With Murugappa Group, Titan To Make iPhone Camera Modules In India
Inc42
·
1y ago
Medial
Apple is reportedly in talks with Murugappa Group and Titan, a subsidiary of Tata Group, to collaborate on assembling and manufacturing sub-components for iPhone camera modules in India. This potential deal represents a shift in Apple's operations from China to India. Currently, Apple does not have any Indian suppliers for camera module components. If an agreement is reached, this would be the first partnership between Apple and an Indian supplier for this critical component. The decision is expected to be finalized within the next five to six months.
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EV race hits a speed bump: Why India’s auto makers are struggling to shift gears
Economic Times
·
1m ago
Medial
A study by Vector Consulting Group reveals major hurdles in India's electric vehicle (EV) advancement, primarily due to insufficient R&D capacity among auto component suppliers. This has led to significant project delays for automakers. The study highlights that traditional manufacturers face bottlenecks because of outdated systems, while new EV startups often overpromise and rely on software fixes. The report suggests that automakers should forge partnerships with suppliers, utilizing joint teams and live data tools to ensure faster and improved processes.
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Apple deepens India presence, enlists Wipro Enterprises & LMW as suppliers
Economic Times
·
4m ago
Medial
Apple is exploring partnerships with Indian companies like Wipro Enterprises and Lakshmi Machine Works to strengthen its local supplier base and reduce supply chain risks. This move aligns with Apple's strategy to expand its presence in India and benefit from potential government incentives for electronics manufacturing. The collaboration with Indian suppliers is expected to lower costs, boost exports, and enhance Apple's overall supply chain resilience as it seeks to diversify away from dependence on China.
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Bharat Forge re-appoints Amit Kalyani as vice chairman and joint MD
Livemint
·
1y ago
Medial
Bharat Forge Ltd has extended the tenure of Amit Kalyani as vice chairman and joint managing director for another five years, starting from 11 May 2024. The decision, made by the board of directors, is subject to shareholder approval. Amit Kalyani, who has been with the company since 1999, has played a significant role in various areas including operations, manufacturing, IT, finance, acquisitions, and diversification of the business. Bharat Forge is a leading supplier of defence-to-auto components and belongs to the Kalyani Group.
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Apple aims to make a quarter of the world’s iPhones in India
Livemint
·
1y ago
Medial
Apple and its suppliers have ambitious plans to produce over 50 million iPhones in India annually within the next few years, with the aim to account for a quarter of global iPhone production. The move comes as Apple seeks to diversify its supply chain away from China and reduce dependence on the country. The company believes that India's trust factor is high and is making progress in building a network of core suppliers in the country. While China will remain the largest iPhone producer, India is positioning itself as a significant manufacturing hub for the tech giant.
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Apple supplier Rayprus eyeing Bengaluru facility
Economic Times
·
1y ago
Medial
Rayprus Technologies, a supplier for Apple, is planning to set up a manufacturing facility in India. The Foxconn subsidiary, known for producing precision camera and lens solutions, is in talks with Foxconn to establish the facility within the new Foxconn campus in Bengaluru. This move follows Corning's announcement of setting up a manufacturing unit in Tamil Nadu for gorilla glass production, indicating that more pieces of Apple's India story are falling into place. The addition of leading component players in the Indian supply chain strengthens Apple's diversification strategy.
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Tata Motors, Maruti, M&M, Hyundai shares: Fresh price targets amid auto sector underperformance
Business Today
·
5m ago
Medial
Analysts from InCred Equities favor Hero MotoCorp as the top OEM for its valuation, followed by Maruti Suzuki and Ashok Leyland due to expected volume recovery. Tata Motors and TVS Motor are among the reduce-rated stocks, while Bharat Forge and Balkrishna Industries receive an add rating. Bajaj Auto is upgraded, alongside Samvardhana Motherson in the component sector. Despite some optimizations, the general stance on the auto sector remains neutral.
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US’ Corning to build Rs 1,000-crore gorilla glass facility in Tamil Nadu
Economic Times
·
1y ago
Medial
Corning Inc., the key supplier of gorilla glass to Apple, is planning to invest Rs 1,000 crore in setting up a manufacturing facility in Tamil Nadu, India. The facility will be located in Pillaipakkam and employ around 300 people. This move marks the expansion of Apple's ecosystem and the growing presence of electronic component manufacturers in India. Corning has chosen Tamil Nadu over Telangana due to the state's electronics ecosystem and proximity to other Apple suppliers. The facility is expected to be operational within a year.
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Indian Defense Startups Transforming National Security
StartupTalky
·
1y ago
Medial
India is leveraging the Make in India initiative to boost defense exports and decrease reliance on foreign suppliers. The country aims to gain a share of the $2.1 trillion global defense industry by encouraging large corporations, startups, and small and medium-sized enterprises to manufacture defense equipment domestically. The government is offering tax breaks and support programs, including the Innovation for Defense Excellence (iDEX), to foster innovation and assist startups in the defense sector. Private companies such as Bharat Forge and Mahindra Defense Systems have already secured significant contracts, reflecting the growing opportunities for entrepreneurs in the Indian defense industry.
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