Apple is negotiating with Micron and Tata Group to buy $12 billion worth of semiconductors from their upcoming Indian factories. By 2026, Apple plans to shift 26% of its iPhone production to India, boosting the need for local chips. In FY24, Apple produced $14 billion worth of iPhones in India, making it the largest production by any company in the country. Apple’s semiconductor needs have soared from $18.8 billion in 2011 to around $72 billion now. The Indian government has also launched a $9 billion incentive scheme to support semiconductor projects, aiming to attract more global players.