Apple supplier Salcomp sees India revenue of $2-$3 bn, plans rapid hiring

CHENNAI (Reuters) – Finland’s Salcomp, a supplier to Apple, plans to double its workforce in India to 25,000 over the next three years, targeting annual revenue in the country of at least $2 billion to $3 billion by 2025, a top company executive said on Monday.

The plans come as Apple shifts production away from China after its strict COVID-related lockdowns and restrictions, and with rising trade and geopolitical tensions between Beijing and Washington.

“The whole supply chain is now kind of looking at an alternative. And India is poised to be one of the best alternatives,” Sasikumar Gendham, managing director, Salcomp Manufacturing India, told reporters in Chennai city in southern India during an industry event.