MUMBAI — Tata Group is in talks with Wistron to acquire the Taipei-based corporation's facility in Karnataka, India, for up to 50 billion rupees ($612.6 million), according to a report by the Economic Times.

Wistron is one of Apple's top suppliers in India and assembles iPhones at its Karnataka facility. The company currently employs 14,000-15,000 people at the facility.

The final details of the transaction are still in negotiation, but if Tata fails to buy the factory, the company could consider a joint venture with Wistron, the report said.

According to a report by JP Morgan, Apple plans to shift 25% of its iPhone production to India by 2025 in a bid to diversify its manufacturing base that is currently heavily dependent on China. As per the report, 5% of the global iPhone 14 production would be in India by the end of 2022.

"There is a sense that Apple wants to bring down its dependency on Wistron over the next few years due to a variety of reasons. Players like Tata want to capitalize on that," an anonymous official told the Economic Times.

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