In a move that’s sure to make headlines, Tata Group is on the brink of becoming India’s first homegrown iPhone manufacturer. The giant conglomerate is reportedly close to finalizing a major deal to acquire a plant from Taiwanese manufacturing giant Wistron Corporation, located in southern India. As they say, “Good things come to those who wait,” and it seems the wait might soon be over for Tata Group.

Tata Group in Talks with Wistron Corp

According to sources familiar with the matter, Tata Group has been deep in discussions with Wistron Corp for several months. The word on the street is that the deal could be completed by the end of March. “It’s like watching a suspense thriller,” joked one insider. The two firms have explored various partnership options, but now, the focus seems to be on Tata Group taking the reins of the joint venture.

As per the discussions, Tata Group is expected to manage the primary manufacturing operations, with Wistron providing support. However, both companies have remained tight-lipped about the potential deal. Perhaps they’re taking a cue from the classic saying, “Silence is golden.”

A Win-Win for All

Currently, Apple depends on Taiwanese heavyweights like Wistron and Foxconn Technology Group for its iPhone production. Should Tata Group successfully wrap up this deal, it would mark a significant leap forward in India’s quest to reduce reliance on China for electronics manufacturing. “It’s like David taking on Goliath,” quipped a tech analyst.

The goal is to finalize the due diligence by March 31, 2023, allowing Tata Electronics to officially take over the Wistron plant. If the acquisition happens by March, the plant could qualify for government incentives starting April 1, 2023. Talk about a timely move!

Industry insiders suggest that Wistron’s lone iPhone manufacturing operation in India could be valued at over $600 million, assuming it meets the criteria for expected government incentives. “It’s not just a deal; it’s a game-changer,” said a market expert.

Let’s not forget the strategic advantage for Apple, which is keen to diversify its manufacturing base due to pandemic-related supply chain disruptions and restrictions that have affected production. The 2.2 million square-foot plant, located just over 50 kilometers east of Bengaluru, is poised for a new chapter.

If the deal goes through, Tata Group will take over all eight iPhone production lines and the plant’s 10,000 workers, including engineers. As the saying goes, “A journey of a thousand miles begins with a single step,” and for Tata Group, this might just be that step.