Apple exported $5 billion worth of iPhones from India in the first five months of the current financial year
New Delhi| The giant tech company Apple’s iPhone exports from India have increased to $5 billion in the April-August period of the current financial year due to the help of the Production-Linked Incentive (PLI) scheme. According to industry data, the review period has seen a 50 per cent increase over the same period of the previous fiscal year.
On behalf of the industry analyst, it was said that the production of Apple’s iPhone Pro and iPhone Pro Max models is going to start in India. Due to this, the value of iPhone exports is going to increase in the coming time. The new iPhone 16 series will be available in the country from September 20. Union Minister of Railways and Electronics and IT Ashwini Vaishnav said that the Apple iPhone 16 is being manufactured at Indian Manufacturing Plants.
In a social media post, the minister said that under the ‘Make in India’ initiative of Prime Minister Narendra Minister, iconic products for the world are being made in India. At present, iPhones worth at least one billion dollars are being exported from India every month. The main reason for this is the presence of PLI scheme in the country. In 2023-24, $12.1 billion worth of iPhones were exported. In 2022-23, $6.27 billion worth of iPhones were exported. Apple’s Bharat operations were valued at $23.5 billion in FY 2023-24. Apple’s income in India could rise 18 percent year-on-year in 2024. With the launch of the new iPhone, the company’s position in the country will be stronger than before.
