Apple suppliers looking to invest Rs 2,800 crore in UP, according to YEIDA

22 Dec 2022 , 11:00 AM

The Yamuna Expressway Industrial Development Authority (YEIDA) reported on Wednesday that some Apple suppliers have applied for land with the authority, with a proposed investment of Rs 2,800 crore while generating thousands of jobs. This comes as Apple looks to increase manufacturing in India amid Covid-related supply chain issues in China.

According to YEIDA, CEO Arun Vir Singh, these businesses have already paid 10% of the projected land allotment for Sector 29 under the Yamuna Authority, which is close to the future Jewar airport in Greater Noida.

Singh stated, ‘An ink manufacturing business, Seiko Advance Limited, expressed its wish to make its product on 5 acres of land in Sector 29 of YEIDA.

The Apple suppliers and a well-known manufacturer of camera parts wanted to build a facility on roughly 23 acres of land with an investment of Rs 2,800 crore.

The investment was suggested by Apple suppliers at a recent conference in South Korea, according to Singh, speaking to IANS.

As a result of turmoil in China over its zero-Covid policy, which has badly affected its supply chain and caused a significant scarcity of new iPhone 14 Pro models, Apple is moving forward with its manufacturing plans in India and Vietnam.

In order to ‘lower dependence on Taiwanese assemblers dominated by Foxconn,’ the corporation is reportedly ‘ordering its suppliers to plan more actively for building Apple goods elsewhere in Asia, particularly in India and Vietnam.’