According to a report by Bloomberg, the Tata group is buying the iPhone facility of Taiwan’s Wistron based in southern Karnataka.

The report said that the agreement could be sealed as early as August 2023 making it the first local company assembling iPhones.

The Wistron facility is valued at over USD 600 million and currently employs more than 10,000 workers and is assembling the iPhone 14 model.

The report claims that Wistron has promised Apple to ship $1.8 billion dollar worth of iPhones by the end of the fiscal year in March 2024. It further plans to triple the workforce of the factory by next year.

The report suggests that Tata Group will deliver these promises once it finalizes the agreement, thereby ending the Wistron's manufacturing operations in India.

The move will help Apple’s efforts to diversify its product base beyond China and build up technology manufacturing in the other South Asian countries.

In the recent years, the Indian government under the leadership of Prime Minister Narendra Modi has made lot of progress when it comes to domestic manufacturing by implementing various initiatives.

The move of an Indian company making iPhones will further help persuade other global electronics brands to consider production in India instead of relying on China.

"The 155-year-old Tata Group sells everything from salt to tech services. Over the past few years, the group has sought to make inroads into electronics production and e-commerce, both relatively new territories for the Tata family," the report said.

"It already makes iPhone chassis, or the metal backbone of the device, at its factory spread over hundreds of acres of land in Tamil Nadu state. The Tatas also foster chipmaking ambitions," Chairman N Chandrase karan has previously said to Bloomberg.