Apple supplier Salcomp has said that it plans to double its headcount in India to 25,000. The Finland-based company aims to do this over the next three years.
In addition to increasing its workforce in the country, Salcomp is also targeting annual revenue of USD 2-3 billion by 2025.
The news of the development from Salcomp comes even as Apple plans to shift large chunks of its production away from China as a follow up to COVID lockdowns last year, along with geopolitical issues between the US and China.
Salcomp has 12,000 employees under its payroll in Chennai. The company was owned by Nokia not too long ago.
The company is setting up a housing complex with entertainment and education to accommodate 15,000 people, according to a media report.
Another Apple suppler Foxconn also has plans to increase its workforce in India fourfold over the next two years, as reported by Reuters.
According to JPMorgan estimates from last year, Apple may make one out of four iPhones in India by 2025.
In India, iPhones are assembled by three Apple suppliers including Foxconn, Wistron and Pegatron.