India's Tata Electronics has agreed to buy a majority stake in Taiwanese contract manufacturer Pegatron's only iPhone plant in India, forming a new joint venture that strengthens Tata's position as an Apple supplier,

Last year, Tata Group had acquired Taiwan’s Wistron plant in Karnataka, and the company is also building another plant in Hosur in Tamil Nadu. For Tata, the Chennai Pegatron plant will bolster its iPhone manufacturing plans.

Under the deal announced internally last week, Tata will hold 60 per cent and run daily operations under the joint venture, while Pegatron will hold the rest and provide technical support

Tata Electronics will acquire a majority stake in Pegatron's iPhone manufacturing plant in India. The deal will create a new joint venture, with Tata holding 60% and Pegatron holding 40%. This move strengthens Tata's position as an Apple supplier.