Blitz Bureau
NEW DELHI: Buoyed by the ‘Make in India’ initiative and the productionlinked incentive (PLI) scheme, iPhone production in India has gone up from less than 1 per cent in 2017 to 10 per cent in 2023 and plans are to scale it up to 25 per cent of global shipments by 2025, according to global investment firm Jefferies.
PLI scheme a driver
The introduction of the mobile PLI scheme, alongside global supply chain diversification, is driving the surge in Apple’s local manufacturing in India, the latest report mentioned.
The tech giant was prepared for launching the latest iPhone 16 Pro and Pro Max models in the country post the global debut on September 9. The company is set to make its ‘Make in India’ iPhone 16 Pro and 16 Pro Max models available in the country right after the launch.
Apple aims to manufacture more than 50 million iPhones in India per year, as it aims to shift some of the production out from China. The iPhone exports from India surged sharply to $12.1 billion in 2023-24 from $6.27 billion in 2022-23. Overall, the company’s India operations reached 23.5 billion dollars in value in the last fiscal (FY24).
According to Jefferies, electronics export trend from India is rising rapidly but still has room to grow from value addition perspective.
Also, electronics imports are still much more than double of exports.
