Apple’s big achievement in India, iPhone manufacturing reaches $10 billion
American devices maker Apple has rapidly increased its manufacturing in the last few years. India’s share in the company’s manufacturing is also increasing continuously. Apple’s iPhone manufacturing in the country reached $ 10 billion (about Rs 84,000 crore) between April and October of the current financial year.
However, China has a major share in the company’s manufacturing. IT Minister Ashwini Vaishnaw quoted a media report in a post on social media platform X that Apple’s manufacturing is increasing in the country. When the company’s $ 10 billion FoB manufacturing includes account sales, distribution, marketing, logistics and margins, this value is about $ 15 billion. The share of exports of iPhones in this total value is about seven billion dollars. The report states that the manufacturing in October for the company has been the highest in a month with two billion dollars.
The central government’s Production-Linked Incentive (PLI) scheme has played an important role in the increase in Apple’s manufacturing. In the last four years, the company has created about 1,75,000 employment opportunities in the country. In the current financial year, the company’s target is to manufacture $18 billion. The government has planned to give incentives of five billion dollars (about Rs 42,221 crore) to electronics sector companies for local manufacturing of components for laptops to smartphones. This will reduce the supply from China.
In the last six years, electronics manufacturing in the country has more than doubled to about $115 billion. In this, growth in the manufacturing of smartphones of Apple and South Korea’s Samsung has contributed significantly. India has become the fourth largest supplier of smartphones in the world. In the last financial year, Apple’s revenue in the country has increased by about 36 percent to more than Rs 67,121 crore. iPhones have a major share in the company’s sales. In the current financial year, the company’s iPhone sales are estimated to be around $ 11 billion. Apart from this, Apple can get a revenue of four to six billion dollars from Mac, iPad, smartwatches and services.
