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- Tata has been growing its influence in the technology sector.
- In India, Wistron, Foxconn, and Pegatron produce iPhone models.
- The government has taken action to counter China’s hegemony in the electronics industry.
According to a senior official at the conglomerate’s software services division, if Tata Group is successful in its attempt to acquire an iPhone assembly factory in southern India, it will help the nation’s aspirations to become a centre for the production of electronic devices.
In an interview with Bloomberg TV’s Rishaad Salamat and Haslinda Amin on Tuesday, N Ganapathy Subramaniam, operating chief at Tata Consultancy Services Ltd., said: “I am not directly involved in that, but it should be really good for India because this is going to create an opportunity in India to manufacture electronics and microelectronics.”
The $128 billion Tata Group (approximately Rs. 10,50,100) has been in negotiations with Apple’s Taiwanese supplier Wistron for months and hopes to close the deal on the acquisition of its assembly plant close to Bangalore by the end of March. The salt-to-airline conglomerate has been stepping up its technological influence, and the Indian government has taken action to counter China’s hegemony in the electronics industry.
Both Subramaniam and Natarajan Chandrasekaran, chairman of the Tata Group, come from the southern Indian state of Tamil Nadu.
After TCS announced a net profit of 108.5 billion rupees ($1.3 billion) for the three months ending in December, below the average analyst estimate of 110.85 billion rupees, the company’s shares plummeted as high as 2.7 percent on Tuesday.
Although the environment is quite diverse and broad-based, Subramaniam stated, “with what we have accomplished as momentum and the qualified pipeline that I see, I think it looks fine.
According to Subramaniam, the IT business issued a special dividend of 67 rupees per share on Monday. This action was consistent with the company’s capital allocation policy.