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Apple To Employ 5 Lakh People In 3 Years In India
Inc42
·
1y ago
Medial
Apple is reportedly shifting at least half of its supply chain from China to India, aiming to employ around 500,000 people directly over the next three years. The company already manufactures 14% of its flagship devices in India and plans to ramp up local value addition from its Indian suppliers. Apple is also planning to offer residential facilities for factory workers in line with its existing industrial housing models in China and Vietnam. With its growth in India, Apple recorded revenue of INR 49.3K Cr in the fiscal year 2022-23, a 48% increase from the previous year.
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Food Industry is the Second Largest Job Creator in India, Employing Over 85 lakh People, Says NRAI President Sagar Daryan
OutlookIndia
·
3m ago
Medial
The food industry is the second-largest job creator in India, employing over 85 lakh people, as stated by NRAI President Sagar Daryan. This sector is projected to employ more than 1 crore people soon and is the third-largest industry in India, significantly larger than Bollywood. During the NRAI Food Delivery Summit 2025, industry voices emphasized the importance of making food delivery profitable and sustainable, advocating for a role in policy-making and addressing challenges with food aggregators like Zomato and Swiggy.
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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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GetVantage launches AI-powered GrowthSahay, commits Rs 500 crore for MSME financing
Economic Times
·
5m ago
Medial
GetVantage, a fintech firm, introduced GrowthSahay, an AI-driven platform offering unsecured, non-dilutive working capital financing for MSMEs, ranging from Rs 1 lakh to Rs 1 crore. Targeting GST-registered MSMEs, it operates digitally and quickly, providing funding based on cash flows. The initiative aims to double credit access for MSMEs in India over the next 3–5 years, aligning with the government’s mission to strengthen this sector and support the country's economic growth to a $5 trillion economy.
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Stashfin grants ESOPs of up to Rs 5 L to employees
YourStory
·
6m ago
Medial
Stashfin, a financial services platform, has granted ESOPs to its employees from a Rs 600 crore pool. Employees with five years of service receive Rs 5 lakh worth of ESOPs, while those with three years receive Rs 3 lakh. This initiative aims to reward and retain talent. ESOPs can unlock through events like IPOs or acquisitions. Founded in 2016, Stashfin has raised over Rs 6000 crore from investors like Tencent. The move aligns with a trend among Indian startups.
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Budget 2024: 100 India Post Payments Bank Branches To Be Set Up In NE
Inc42
·
1y ago
Medial
The India Post Payments Bank is set to boost digital banking services in Northeast India and expand banking access to more people in the region. Leveraging over 1.55 lakh post offices and 3 lakh postal postmen, the state-backed payments bank aims to provide doorstep banking services. In addition to traditional banking services like savings accounts and money transfers, the bank also offers insurance through third-party providers and utility payment services.
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IPO bound Imarticus Learning acquires MyCaptain
Economic Times
·
2m ago
Medial
Imarticus Learning has acquired edtech startup MyCaptain for Rs 50 crore, expanding its reach into non-tech skilling across India's tier 2 and 3 cities. The acquisition aims to enhance career opportunities for over five lakh MyCaptain users. Imarticus now offers 60+ live programs in new-age careers and plans offline expansions at 20+ centers. This marks Imarticus's fourth acquisition in four years, aligning with its goal to reach 5 million learners in three years.
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Solar gadget business in India: A profitable green venture
Inshorts
·
4m ago
Medial
A solar gadget business in India can be launched with ₹3–5 lakh, covering inventory, branding, and marketing. Entrepreneurs can source products like solar fans, lanterns, and chargers from Indian wholesalers or Indiamart. With profit margins of 50–60% and potential monthly revenue of ₹1.5 lakh, it’s a scalable green venture for youth and rural markets.
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Tata Group plans a new iPhone assembly plant in Hosur, will boost Apple in India
Livemint
·
1y ago
Medial
Tata Group is reportedly planning to construct a large iPhone assembly plant in Hosur, Tamil Nadu, aligning with Apple's strategy to expand its manufacturing footprint in India. The facility is projected to have around 20 assembly lines and employ 50,000 workers within two years. This move will help Apple localize its supply chain and enhance its collaboration with Tata, as it looks to diversify its operations beyond China. The plant is expected to be operational within the next 12-18 months and may seek government subsidies for establishment and growth.
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Tata Group to invest in electronic manufacturing unit, green energy sector in Assam
YourStory
·
5m ago
Medial
Tata Group plans to invest Rs 25,000 crore in an electronics manufacturing unit in Assam, focusing on semiconductor technology and green energy sectors. The investment aims to boost economic development, create 30,000 jobs, and establish a renewable energy partnership with the state government. Chairman Natarajan Chandrasekaran highlighted the semiconductor unit in Jagiroad as a key project, alongside initiatives for solar rooftops in 3 lakh households and generating 5 GW of renewable energy over six years.
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Apple India Set To Clock Over INR 70,000 Cr In Revenue
Inc42
·
1y ago
Medial
Apple India is predicted to surpass INR 70,000 Crore in revenue for the fiscal year ending in March, becoming the second electronics brand in the country to achieve this milestone after Samsung. Apple's sales have grown over 40% for two consecutive years. However, the rate of expansion is expected to slow down in the coming years. Apple's market share in India rose from below 2% in FY18 to 6% in March 2023, while Samsung's market share declined from 26% to 20% over the same period. Apple manufactured iPhones worth INR 1 lakh Crore in India in 2023.
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