Apple's big gift of Rs 100 crore to India... Fortunes of 6 small companies will shine!
iPhone maker Apple has announced a significant investment of ₹100 crore to improve India's environment. This funding will fund clean energy infrastructure across the country, providing clean electricity to 150,000 homes. It will also provide financial support to six Indian startups focused on waste management and agriculture.
Tech giant Apple is now not only manufacturing iPhones in India, but is also making significant investments in the country's environmental and green energy sectors.
On Thursday, the company announced an initial investment of ₹100 crore to strengthen India's renewable energy infrastructure. It is also supporting six early-stage startups working in the environmental sector.
Preparations to light up 1.5 lakh houses
This entire investment is being made in collaboration with CleanMax, a renewable energy developer. Its direct impact will be the development of over 150 megawatts of new renewable energy capacity across the country.
Simply put, this much electricity could meet the annual needs of approximately 150,000 Indian homes.
Previously, Apple has partnered with CleanMax to install rooftop solar projects to run its Indian offices and retail stores on 100% clean energy. The primary objective of this partnership is to increase the use of clean energy throughout the company's India supply chain.
Apple is kind to 6 Indian startups
Not only large infrastructure projects, but also small businesses driving change at the grassroots level are being supported. Apple has partnered with Acumen to provide financial grants, mentorship, and strategic support to six startups working in key areas such as waste management,
the circular economy, and sustainable livelihoods. Speaking about Apple's environmental initiatives, company executive Sarah Chandler explained that the company's commitment to the environment is the core of its innovations around the world.
Aiming to become 'carbon neutral'
This major investment comes at a time when Apple is rapidly expanding its manufacturing base in India through partners like Foxconn and Tata Electronics. In parallel, the company aims to make its entire operations carbon neutral by 2030.
Furthermore, Apple is strengthening recycling systems in collaboration with WWF-India to prevent plastic waste from entering the ecosystem. Their successful program with waste-management firm Saahas Zero Waste in Goa is now being expanded to new areas like Coimbatore.
These innovations are getting a boost
Apple also praised the social enterprises in India it already supports. These include companies like Saptkrishi, which builds affordable farm storage for farmers, Yotuh Energy, which manufactures electric refrigerated transport vehicles, and MOWO Fleet, which trains women as EV drivers and entrepreneurs.
The company's recent Environmental Progress Report also testifies that development and environmental protection can go hand in hand. Apple's revenue has grown by a massive 78 percent since 2015, yet it has still achieved a significant reduction of over 60 percent in its global greenhouse gas emissions.