Apple expands supplier network in India, engages Wipro and LMW, ET reports
Investing.com-- Apple Inc (NASDAQ:AAPL) is in advanced discussions with Wipro Enterprises (NSE:WIPR) and early-stage talks with Lakshmi Machine Works (LMW) (NSE:LMVL) to onboard these Indian firms as suppliers, the Economic Times reported on Wednesday citing sources familiar with the matter.
The move is part of Apple’s broader strategy to diversify its supply chain and reduce dependence on China, the ET report said.
Other Indian firms already integrated or in the process of joining Apple’s supply network include Tata Group, Motherson Group (NSE:SAMD), Aequs, and Bharat Forge Ltd (NSE:BFRG), according to the report.
Wipro (NYSE:WIT) Enterprises operates in engineering, automation, and consumer goods, while Coimbatore-based LMW specializes in textile machinery, CNC machines, and aerospace components.
Apple’s engagement with Indian suppliers signals its deepening commitment to the country, despite uncertainty over U.S. trade policies, ET reported.
Apple has been a key participant in India’s production-linked incentive (PLI) scheme, boosting exports and local manufacturing, the report added.
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