Made in India iPhone: In 2024, Apple has achieved a major milestone in the export of iPhones from India. The company has exported iPhones worth $ 12.8 billion (about Rs 1.08 lakh crore) from India, which is 42 percent more than in 2023. This achievement reflects the success of the Indian government's Production-Linked Incentive (PLI) scheme, which has led to a huge increase in local production and exports. India's record exports will increase the challenge for China.
Apple's local production has also been excellent. According to ET, production in India will increase by 46 percent to $ 17.5 billion (Rs 1.48 lakh crore) in 2024. simultaneously Apple Local value addition has also reached 15-20 percent, which was earlier 5-8 percent.
If this pace continues, Apple can achieve annual production of $ 30 billion in the next few years, due to which India's share in iPhone production can increase from the current 14 percent to 26 percent.
India has played an important role in Apple's iPhone exports. In 2023, Apple had exported $9 billion, which was three-fourths of the total domestic production. Now India has sent iPhones worth more than Rs 1 lakh crore to other countries of the world, which is a new record in this sector. This makes India a big player in the smartphone production sector.
India's success for Apple may increase China's tension. China is the largest manufacturer of Apple iPhone, while India is emerging rapidly. India is very important for the export of iPhone, because about 70 percent of the total iPhones manufactured in the country are exported. iPhone sales have decreased due to increase in demand for Huawei in China. Apple is also keeping an eye on the declining sales of iPhone in China.
The Government of India runs the Production-Linked Incentive (PLI) scheme to make the country a global hub of smartphone manufacturing. The mobile companies involved in this are given subsidy on completing the phone production target. This scheme will end in 2026. According to ET, mobile manufacturing companies are demanding that this scheme be taken forward, as more work is still to be done.
