According to Economic Times
Apple’s iPhone exports from India allegedly increased to10,000 crore in May of this year. In accordance to the India Cellular and Electronics Association, smartphone shipments in April and May 2023 exceeded 20,000 crore, more than double the amount ($9,066 crore) exported during the same time previous year.
In FY2023, Apple iPhone exports from India increased by over four times, surpassing $5 billion, as the company increased local manufacture of its products.
The Cupertino-based corporation is expanding its footprint in India and broadening its supply chains to move away from China, perhaps creating a new hub for high-end smartphones there.
Due to the Covid epidemic, geopolitical friction between the US and China, as well as New Delhi’s ambitious Production-linked Incentive (PLI) smartphone programme, Apple Inc. is increasingly turning its attention to India.
Apple iPhones exports from India are exported to a number of emerging nations, including the Middle East, Japan, Germany, France, the UK, and Russia.
Apple submitted a request to the Indian authorities in January 2016 to open its own stores there.
The following year, India loosened its restrictions on international retailers’ involvement, paving the path for behemoths like Apple and IKEA to open outlets there.
Apple Inc. opened its first online shop in India in September 2020.
Tim Cook, the CEO of Apple, travelled to India in April to celebrate the opening of two retail locations for the prestigious smartphone company in Mumbai and New Delhi.
Currently, India produces between 5 and 7 percent of all the components for Apple. Apple is anticipated to increase its production capacity in India to create 25% of all iPhones by 2025, according to analysts at JP Morgan. The number of Apple employees in India is 100,000. In the upcoming years, this is predicted to increase to 2 lakh, according to sources.
Cook is optimistic about a long-term business partnership with India.
Tim Cook wrote on Twitter
“Thank you Prime Minister @narendramodi for the warm welcome,” following their meeting in April of this year. We promise to expanding and engaging across the nation, from production and the environment to education and developers, since we share your optimism about the great influence technology can have on India’s future.
