| | DECEMBER 20238India and Australia engaged in a 2+2 Ministerial Dialogue aiming to enhance defense collaboration and strengthen their strategic partnership across various sectors, including critical minerals, trade, and investment. During the meeting in New Delhi, Indian Defence Minister Rajnath Singh and External Affairs Minister S. Jaishankar met with Australian Deputy Prime Minister and Defence Minister Richard Marles, along with Foreign Minister Penny Wong, marking the second India-Australia 2+2 Ministerial Dialogue.Naturally, discussions during the Dialogue addressed the Indo-Pacific situation amid China's military ambitions. External Affairs Ministry Spokesman Arindam Bagchi, in a post on X (formerly Twitter), mentioned that the ministers would discuss broadening the multifaceted India-Australia relationship. This encompassed various aspects such as defense, security, trade, investment, critical minerals, energy, climate change, science and technology, space, education, and fostering people-to-people connections. Additionally, the agenda included deliberations on regional and global issues.Prior to the meeting, Wong and Marles visited the National War Memorial to honor soldiers who made ultimate sacrifices. Reflecting on the historical military ties between India and Australia, Wong, on X, highlighted the longstanding relationship, noting instances like Australian soldiers fighting alongside Indian troops in significant campaigns, including at Gallipoli. INDIA-AUSTRALIA DISCUSS STRATEGIC PARTNERSHIP IN CRITICAL SECTORSAPPLE AIMS FOR RS 1 LAKH CR IPHONE PRODUCTION IN FY24IN FOCUSIN FOCUSApple aims to achieve a production milestone of Rs 1 lakh crore for iPhone manufacturing in India by March 2024, leveraging an expanded manufacturing capacity. The production has already reached Rs 60,000 crore within the first seven months of the fiscal year. Sources familiar with the situation suggested that if this target isn't met in this fiscal year, it's anticipated to be accomplished in the initial quarter of FY25. Despite global consumption challenges, Apple is preparing to fulfill the festive demand in the US and the Western markets. Notably, approximately 70 percent of iPhones manufactured in India are destined for export, amounting to exports worth Rs 40,000 crore ($5 billion) from April to October in this fiscal year.During FY23, the iPhone became the inaugural single brand to exceed the $5 billion export milestone from India. This year, exports have demonstrated an impressive 185 percent year-on-year surge in the initial seven months, surging from Rs 14,000 crore during the corresponding period last year. Navkendar Singh, an associate vice president at IDC India, highlighted, "These robust export figures align with Apple's commitment to India as a market and, notably, positioning India as a crucial manufacturing and export center for the medium to long term".Apple's manufacturing operations in India are facilitated through Foxconn and Pegatron in Tamil Nadu and Wistron (now owned by the Tata Group) in Karnataka, functioning under the production-linked incentive (PLI) scheme for smartphone manufacturing. Recently, the Tata Group finalized an agreement with Wistron Hong Kong, acquiring complete equity in Wistron Infocomm Manufacturing (India). This collaboration designates the Tata Group as the first Indian entity officially joining Apple's supply chain as an iPhone manufacturer, valued at $750 million, which includes a $550 million inter-corporate loan from the parent company to Wistron India.
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