IT Minister Ashwini Vaishnav on Monday, citing a report, revealed that Apple’s iPhone production in India will be worth $10 billion (about Rs 84,000 crore) on freight-on-board (FOB) between April and October of fiscal year 2025. value reached. This has translated into a growth of 37 per cent compared to the same period in FY20, courtesy the government’s production-linked incentive (PLI) scheme. A large portion of iPhone production was exported to other markets, with only a small percentage meeting domestic demands for Apple’s devices.
iPhone production increased in India
one in Post On Twitter, IT Minister Ashwini Vaishnaw quoted a Business Insider as saying report In which there are details of the increasing production of Apple in India. The Cupertino-based technology giant’s $10 billion (Rs 84,000 crore) FOB production reportedly translates to a value of $15 billion (about Rs 1,00,000 crore), taking into account factors such as sales, distribution, marketing, logistics and margins. Factors are involved. Account.
Of the total value, iPhone models worth about $7 billion (about Rs 59,000 crore) were exported. The report said October was the highlight of the FY2015 period for the company as production reached $2 billion (about Rs 16,000 crore) in a single month – a milestone for Apple in India. .
The government’s PLI scheme is said to play a major role in Apple’s growth in India. Data submitted by the firms as part of the initiative reportedly shows that Foxconn is the most important iPhone maker for Apple in the country, contributing 56 percent of the company’s total capacity. Meanwhile, Tata Group’s stake stands at 30 per cent, courtesy the newly acquired Wistron plant. Pegatron is another Taiwanese manufacturer on which Apple depends for iPhone production in India with a 14 percent contribution.
Due to this growth, Apple has created 1,75,000 jobs in the last four years, with more than 72 percent of the positions held by women in India.
The report highlights that Apple is targeting even higher numbers as part of its future growth plans. It aims to reach the $18 billion (roughly Rs. 1,50,000 crore) FoB mark in FY2025, which will translate into a valuation of over $25 billion (roughly Rs. 21,00,000 crore).
