Apple exports iPhones worth over Rs 16,500 crore from India in April-May

New Delhi: Buoyed by the production-linked incentive (PLI) scheme of the Prime Minister Narendra Modi-led government, Apple has managed to export iPhones worth more than Rs 16,500 crore (nearly $2 billion) in the first two months of the ongoing financial year (FY25), shows industry data. According to the data, this accounts for more than 80 [...]

Apple exports iPhones worth over Rs 16,500 crore from India in April-May IANS Updated: June 12th, 2024, 14:18 IST in Business , Sci-Tech 0 Share on Facebook Share on Twitter Share on WhatsApp Share on Linkedin New Delhi: Buoyed by the production-linked incentive (PLI) scheme of the Prime Minister Narendra Modi-led government, Apple has managed to export iPhones worth more than Rs 16,500 crore (nearly $2 billion) in the first two months of the ongoing financial year (FY25), shows industry data. According to the data, this accounts for more than 80 per cent of the country’s total production/assembly of iPhones. Also Read IIT-Madras launches BTech in AI, Data Analytics; admissions through JEE 19 hours ago Climate change-fuelled extreme weather events cost at least $41 billion globally since COP28 23 hours ago The key Apple suppliers (including Foxconn which leads the total exports at about 65 per cent) have strengthened their supply chains in recent months.

Apple ended FY24 in India with a total iPhone production at around $14 billion (more than Rs 1 lakh crore), and the market value of these iPhones would be nearly $22 billion. Showcasing domestic manufacturing strength, Apple has doubled down on iPhone production in India and one out of seven iPhones in the world is now being manufactured in the country, according to PM Modi. India is now the second-largest mobile phone manufacturer in the world.

In a recent interview with NDTV, the Prime Minister said that one out of seven .