Business

iPhone 16 to be made in India, Apple and 3 associate companies apply for land to Yamuna Authority

The companies would be able to start production after the construction and have deposited 10% of the amount

December 21, 2022

The companies propose to set up a unit on about 23 acres of land with an investment of Rs.2,800 cr

As Apple slowly cuts its reliance on China and plans to manufacture the new iPhone 16 in India, the tech giant along with three associated companies has applied for land with Yamuna Authority.

In a meeting held in Korea, Apple along with the associated companies proposed to set up a unit on about 23 acres of land with an investment of Rs.2,800 crore.

Seiko Advance Limited, an ink manufacturing company expressed its desire to make its product on 5 acres of land in Sector 29 of Yamuna Expressway Industrial Development Authority (YEIDA).

The company will invest Rs.850 crore and provide employment to thousands of people.

YEIDA CEO Dr. Arun Vir Singh said that Apple and associated companies would be provided land in Sector 29, which is quite developed with many available facilities.

He added that the companies would be able to start production after the construction and have deposited 10 percent of the amount.

[With Inputs from IANS]

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