India’s iPhone exports surpass $1 billion in 5 months

NEW DELHI: AppleAccording to people familiar with the matter, India’s iPhone exports surpassed the $1 billion mark in the five months since April, reflecting the tech giant’s growing bet on the country amid New Delhi scene promotes domestic production.
India’s outgoing shipments produced Iphonemainly to Europe and the Middle East, is expected to reach $2.5 billion in the 12 months to the end of March 2023, almost double the year to March 2022, the report cited sources. .
Apple started manufacturing the iPhone 13 in India earlier this year, and last week the company announced plans to produce the latest iPhone 14. The tech giant has been manufacturing iPhones in India since 2017.
While India accounts for only a small fraction of iPhone production, increased exports bode well for the Prime Minister Narendra Modiplans to make the country an alternative to China as the world’s factory. Apple, which has long made most of its iPhones in China, is looking for alternatives as Xi Jinping’s administration comes into conflict with the US government and imposes nationwide lockdowns that have halted operations. economic disruption.
Navkendar Singh, an analyst at technology researcher IDC, said: “Apple’s healthy growth in production and export scale shows that India is gradually taking an important place in the China strategy. Country of the company. “And for India, this is a big sign of the success of its fiscal incentive scheme.”
An Apple representative did not immediately respond to an email seeking comment. The Cupertino, California-based company had been hatching the idea of ​​making its prized iPhones in India for years before Modi’s $6 billion incentive move in 2020 prompted pushed the US tech giant to call on its suppliers to ramp up production.
To be sure, India is still far behind China. According to estimates by Bloomberg Intelligence, about 3 million iPhones were manufactured in India last year, compared with 230 million in China.


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