On Tuesday, New Delhi: Union Railways, Electronics, and IT Minister Ashwini Vaishnaw proudly announced that Apple’s latest iPhone 16, a product of Indian manufacturing, is now being launched globally, marking a significant milestone for the country’s tech industry.
The new ‘Make in India’ iPhones will be available in India beginning September 20 and will also be shipped to other countries.
“Apple’s latest iPhone 16 being produced and launched globally from Indian factories,” said Minister Vaishnaw.
“Prime Minister Narendra Modi’s ‘Make in India’ initiative is now driving the creation of iconic products for the world,” the minister posted on X social media platform.
iPhone exports continue to be about $1 billion every month, thanks to the government’s production-linked incentive (PLI) programme. This programme, which offers incentives to companies for increasing their production, has been a key factor in the growth of iPhone manufacturing in India. According to the government, more than 2 lakh people are employed in Apple’s ecosystem alone, and there is significant growth.
India’s prowess in electronic manufacturing is further underscored by the substantial increase in iPhone shipments from India, which rose to $12.1 billion in 2023-24 from $6.27 billion in 2022-23. In the previous fiscal year (FY24), the company’s India activities were valued at $23.5 billion, a testament to the country’s growing role in the global tech industry.
During the peak festival season, India’s iPhone manufacturing plans to hire over 10,000 individuals directly, providing a significant boost to the country’s employment sector. Apple’s plan to produce over 50 million iPhones in India yearly, transferring some production away from China, further augurs well for the country’s economic growth.
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Tata Electronics has two Apple factories and is the largest employer in the Apple ecosystem, alongside Foxconn and Pegatron.
As IT companies such as Apple continue to transfer iPhone manufacture to India due to political stability, favourable government regulations, and a skilled workforce, the country captured over half of the lost market (40.5 percent) from China and Vietnam in the fiscal year before that.
Mobile phone exports from the country increased to approximately $16 billion in FY24 from $11 billion in FY23. The country’s total electronic manufacturing output is estimated to surpass $250 billion during the next five years.
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–IANS
