Tata Group is closing in on a deal to acquire Apple’s Supplier Wistron’s Factory in India. The company is valued at over $600 million and employs over 10,000 workers.

Tata Group is close to signing the agreement to acquire Wistron’s factory by August. This would make India’s largest conglomerate the first local company to move into the assembly of iPhones.

Wistron had earlier committed to providing Apple with $1.8 billion worth of iPhones this year. It was also planning to triple its world force at the plant. Now these commitments have to be met by Tata Group.

This is expected to add momentum to Apple’s effort to expand its production away from China amid the rising tensions between China and the US. Besides Wistron, Apple’s key supplier list in India includes Foxconn Technology Group and Pegatron Corp.

The India Cellular and Electronics Association (ICEA) said that Apple exported iPhones worth Rs 10,000 crore from India in May. It was the first brand to achieve this milestone in India. In the first two months of 2023-24 (FY24) alone, iPhone exports from India stand at over Rs 20,000 crore ($2.4 billion). In the same period last year, India exported Apple phones worth Rs 9,066 crore.