New Delhi: AppleAccording to people familiar with the matter, iPhone exports from India crossed $1 billion in the five months to April, reflecting New Delhi’s growing bets on the country for local manufacturing.
Outbound Shipment of India-Made iphoneThe report, citing sources, said that, primarily for Europe and the Middle East, they are set to reach $2.5 billion in the 12 months through March 2023, nearly double the year before March 2022. Is.
Apple began making the iPhone 13 in India earlier this year, and the company announced its plans to make the latest iPhone 14 last week. The tech giant has been manufacturing iPhones in India since 2017.
While India makes up only a tiny fraction of iPhone production, rising exports augurs well for the Prime Minister. Narendra ModiThere are plans to make the country an alternative to China as the factory of the world. Apple, which has long made most of its iPhones in China, is exploring alternatives as Xi Jinping’s administration clashes with the US government and nationwide lockdowns that have disrupted economic activity.
“Apple’s manufacturing scale and healthy growth in exports suggest that India is gradually taking an important place in the company’s China Plus One strategy,” said Navkendra Singh, an analyst at tech researcher IDC. “And for India, this is a big sign of the success of its financial stimulus plan.”
Apple representatives did not immediately respond to an email seeking comment. The Cupertino, California-based company toyed with the idea of making its prized iPhones in India before Modi’s $6 billion stimulus push in 2020 prompted the US tech giant to ramp up production to its suppliers.
Of course, India is still far behind China. According to estimates by Bloomberg Intelligence, about 3 million iPhones were made in India last year compared to 230 million in China.
Outbound Shipment of India-Made iphoneThe report, citing sources, said that, primarily for Europe and the Middle East, they are set to reach $2.5 billion in the 12 months through March 2023, nearly double the year before March 2022. Is.
Apple began making the iPhone 13 in India earlier this year, and the company announced its plans to make the latest iPhone 14 last week. The tech giant has been manufacturing iPhones in India since 2017.
While India makes up only a tiny fraction of iPhone production, rising exports augurs well for the Prime Minister. Narendra ModiThere are plans to make the country an alternative to China as the factory of the world. Apple, which has long made most of its iPhones in China, is exploring alternatives as Xi Jinping’s administration clashes with the US government and nationwide lockdowns that have disrupted economic activity.
“Apple’s manufacturing scale and healthy growth in exports suggest that India is gradually taking an important place in the company’s China Plus One strategy,” said Navkendra Singh, an analyst at tech researcher IDC. “And for India, this is a big sign of the success of its financial stimulus plan.”
Apple representatives did not immediately respond to an email seeking comment. The Cupertino, California-based company toyed with the idea of making its prized iPhones in India before Modi’s $6 billion stimulus push in 2020 prompted the US tech giant to ramp up production to its suppliers.
Of course, India is still far behind China. According to estimates by Bloomberg Intelligence, about 3 million iPhones were made in India last year compared to 230 million in China.