Mumbai, January 25: In a significant boost to the government’s ‘Make in India’ initiative, Tata Electronics has acquired a controlling 60% stake in Pegatron Technology India, a major manufacturer of Apple products, including iPhones. The acquisition cements Tata Electronics’ position as a key player in India’s burgeoning electronics manufacturing industry.
This development follows Tata Electronics’ earlier acquisition of Wistron’s India operations, based in Narsapura, Karnataka, for $125 million. These moves are aligned with Tata Sons’ Chairman N. Chandrasekaran’s strategic vision of expanding the Tata Group’s investments in the electronics manufacturing sector.
As part of the deal, Tata Electronics and Pegatron will integrate their operations, and Pegatron will undergo rebranding to reflect its new ownership and strategic direction. “The acquisition of a majority stake in Pegatron Technology India Private Limited fits into Tata Electronics’ strategy of growing our manufacturing footprint,” said Dr. Randhir Thakur, CEO and MD of Tata Electronics. “We look forward to a new era of AI, digital, and technology-led manufacturing as we expand our operations in India.”
Pegatron’s India plant, which employs nearly 10,000 people, currently produces Apple’s iPhone 13 and iPhone 14 models. Earlier this month, Tata Electronics received clearance from the Competition Commission of India (CCI) to move forward with the acquisition. This deal marks a significant step in Tata Electronics’ goal of becoming a key part of Apple’s iPhone production network in the country.
Established in 2020 as a greenfield venture of the Tata Group, Tata Electronics now employs over 50,000 people and operates in states such as Gujarat, Assam, Tamil Nadu, and Karnataka. The company’s latest acquisition is expected to further consolidate its role in India’s rapidly growing electronics manufacturing ecosystem.
The acquisition comes at a time when Apple is witnessing strong growth in India, riding on the government’s production-linked incentive (PLI) scheme and an increasing demand for premium smartphones. Apple’s iPhone exports from India reached an estimated Rs 1 lakh crore in 2024, with industry estimates suggesting exports of over $12 billion—a more than 40% jump compared to 2023. Domestic production of iPhones has also grown by nearly 46% year-on-year.
The expansion of Apple’s operations in India has created 1,75,000 direct jobs over the past four years, with women accounting for more than 72% of the workforce.
With this acquisition, Tata Electronics joins Foxconn and Pegatron as one of the key iPhone contract manufacturers in India, underscoring the nation’s emergence as a critical hub for global electronics manufacturing.