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Apple ecosystem created over 1,50,000 direct jobs in India since August 2021:

by Blitz India Media
April 3, 2024
in News
0
apple
Team Blitz India

NEW DELHI: Since the launch of the production-linked incentive (PLI) scheme for smartphones in August 2021, the Apple ecosystem has directly employed over 150,000 individuals, according to a report by The ET. This makes Apple India’s top blue-collar job creator. Most of these employees are first-time job seekers aged between 19 and 24.

The report also states that around 300,000 additional jobs have been generated indirectly. Apple reportedly employs nearly 3,000 people in India, with its iOS app development supporting over 1 million jobs. The company has been focusing on India, the world’s second-largest smartphone market, due to geopolitical tensions and market slumps in the US and China.

Apple started manufacturing iPhones in India in 2017, in line with the PLI scheme, and has been working with suppliers to assemble the latest iPhone models and produce an increasing number of components locally. The three contract manufacturers, Foxconn, Wistron and Pegatron, have created over 77,000 direct jobs.

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New Delhi, 13 October : India’s fintech sector raised $2.2 billion in the first nine months of 2026 (January 1, 2026–September 30, 2026), up 14 per cent from $1.9 billion in the same period a year earlier, a report said. The report from data intelligence platform Tracxn Technologies Limited said funding rounds dipped from 260 to 153, adding that the funding was concentrated in a smaller number of large late‑stage rounds, with five mega‑rounds of $100 million or more accounting for $1.1 billion or 48 per cent of total capital. The report said in the first nine months of 2026, digital lending and payments topped the category rankings, while Bengaluru accounts for over three-fifths of all capital raised. On the exit side, IPOs saw a 50 per cent uptick while overall acquisitions slowed. As many as 30 companies raised their first funding round, down 49 per cent from 59 in the previous year. Series A and later rounds totalled 77, down 31 per cent from 112. Late-stage funding (Series C+, PE, and pre-IPO) led the mix, rising 95 per cent to $1.5 billion in the first nine months of 2026 — up from $751 million during the same period in the previous year. This capital surge pushed late-stage investments to 67 per cent of total market funding, the report noted. Earlier stages experienced contractions in capital and deal counts. Early-stage funding fell 33 per cent to $668 million across 52 rounds, compared to $1 billion across 82 rounds in nine months of 2025. Seed funding fell 57 per cent to $73.8 million across 76 rounds, down from $173 million across 148 rounds. New unicorns crossed the billion-dollar threshold in an average of 7.1 years after their Series A funding. Moreover, the industry saw 3 IPOs in nine months of 2026, up 50 per cent from 2 in the previous year, alongside 11 acquisitions, down 45 per cent from 20.

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