Apple boosts India iPhone output

October 29, 2024 - Apple Inc.’s iPhone exports from India jumped by a third in the six months up to September, underscoring its push to expand manufacturing in the country and reduce dependence on China.

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Driven by India’s Production-Linked Incentive (PLI) scheme, Apple has reached around $6 billion in iPhone exports from India from April to September this fiscal year.

“Prime Minister Narendra Modi’s ‘Make in India’ initiative is now driving the creation of iconic products for the world,” IT Minister Ashwini Vaishnaw posted on X social media platform.

The tech giant plans to manufacture more than 50 million iPhones in India annually. The iPhone exports from India surged sharply to $12.1 billion in 2023-24 from $6.27 billion in 2022-23 and 1.2 billion in 2021-22.

The company also set a record last fiscal year by doubling its India production to $14 billion.

Three main suppliers -- Foxconn Technology Group, Pegatron Corp., and Tata Electronics -- are leading iPhone assembly in India.

On Thursday, October 31, Apple is expected to report its biggest quarterly revenue jump in two years.