Apple’s achievement of exporting over 80 percent of the total production value of iPhones assembled in India by its three vendors is a notable milestone.
India achieved a significant milestone in November by surpassing Rs 20,000 crore in monthly smartphone exports for the first time, driven largely by Apple. According to industry data, exports reached Rs 20,300 crore, reflecting a remarkable year-on-year growth of over 90 percent compared to the same period last year.
This achievement highlights India’s growing prominence in the global smartphone manufacturing and export landscape, spurred by initiatives such as the Production-Linked Incentive (PLI) scheme and increased investments from global tech giants. In 2019, smartphones ranked as the 23rd largest export commodity from India. Today, they hold the position of the third-largest individual commodity export, underscoring the rapid growth of this sector.
Both Apple and Samsung have set new benchmarks for smartphone exports. The Rs 14,000 crore figure in November represents a significant leap, reflecting both strong global demand for iPhones and Apple’s strategic focus on expanding its production and export capacity in India. This achievement comes on the heels of another record in October, where exports reached Rs 12,000 crore. Samsung’s contribution to this surge also highlights the robust performance of major tech companies in India’s manufacturing and export sectors.
Apple’s achievement of exporting over 80 percent of the total production value of iPhones assembled in India by its three vendors is a notable milestone. The PLI scheme, which aims to boost domestic manufacturing and reduce dependency on imports, set a target of 70-75% export commitment for FY25. Apple’s performance surpasses this benchmark, showcasing its strong integration into the Indian manufacturing ecosystem.
In a recent interaction with the media, Pankaj Mohindroo, Chairman of industry body ICEA said that the PLI scheme is a transformative initiative for India, with Rs 5,800 crore allocated from 2021 to 2024. It has generated Rs 1.1 trillion in incremental goods and services tax from mobile components. More than financial benefits, it has created 3 lakh direct jobs and 6 lakh indirect jobs, empowering many young women entering the workforce. Additionally, smartphone exports during this period have contributed Rs 2.87 trillion to India’s export portfolio, underscoring the scheme’s significant economic impact.
