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Apple iPhone – Apple made a lot more iPhones in India compared to 2022. A report from The Economic Times says they made iPhones worth Rs 1 lakh crore in 2023. The report also says they sent iPhones worth Rs 65,000 crore to other countries. This helped India sell a bunch of phones and make Rs 90,000 crore.
The report quotes someone who knows about this, saying, “To be clear, ₹1 lakh crore is how much the phones are worth when they leave the factory. The actual value could be between ₹1.5 lakh crore and ₹1.7 lakh crore, depending on taxes and dealer margins in different countries.”
Right now, Foxconn, Pegatron, and Wistron are the main companies making iPhones for Apple in India. They all got benefits from a scheme called PLI. In 2023, Apple made different iPhone models in India, from iPhone 11 to 15. Most of these iPhones go to the US, Europe, and West Asia.
Apple did even better than expected under the PLI scheme. Officials think this might get Apple’s partners more rewards based on how well they did.
This success is helping the government’s plan to get big companies to make things in India instead of China. An official says, “Apple kept its promise to make India a second home for iPhone making. They’re now making more things in India.”
Apple’s piece of the market in India went up from 2% to 6% in five years. They’re also teaming up with Indian companies like Tata Group to build a strong way of getting materials and making things in India.
And here’s something big: Apple is the first brand to send more than $5 billion worth of stuff from India in one year. This helped India sell a lot of phones to other countries.
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