Bharat’s iPhone exports from Apple brand have hit a record high, crossing
the $5 billion mark in just the first seven months of Financial Year 24
(April-October).
The jaw-dropping surge of 177 per cent, in comparison to exports of $1.8
billion at the same period last year, has significantly contributed to Bharat’s
overall smartphone exports. It reached around $8 billion in the same timeframe,
marking a 61 per cent increase from the previous year.
Experts attribute the growth spurt mainly to Apple’s ramp-up in
manufacturing under Bharat’s production-linked incentive (PLI) scheme for
mobile devices.
Now in its third year, this initiative has seen iPhones dominate the nation’s
smartphone export picture like never before.
Over 62 per cent of all smartphone exports from Bharat are now iPhones, a
remarkable leap from 45 per cent in FY23 and just 22 per cent in FY22.
Apple’s 2027 Timeline in India
Apple’s large-scale exports commenced post joining the smartphone
manufacturing race with the announcement of the ₹38,645 crore PLI scheme.
Taiwanese giants Foxconn and Pegatron, in Tamil Nadu, and the recently
Tata-acquired Wistron in Karnataka, are churning out multiple iPhone models,
including the 11, 12, 13, 14, and the newest iPhone 15.
This year, Tata Electronics is set to become the first Indian company to
supply iPhones, as it has bought Wistron’s assembly lines in Karnataka for $125
million.
Last fiscal year, Pegatron and Wistron exported most of their iPhone
production, while Foxconn, the largest global iPhone manufacturer, produced
various models, including the iPhone 15, for both Indian and global markets.
This move signifies a significant shift in Apple’s manufacturing strategy
and India’s growing prowess in the global smartphone market.
NE Watch Desk
