India-made iPhones breach $10 billion milestone, reveals IT Minister Ashwini Vaishnaw

India’s iPhone manufacturing has hit a outstanding milestone, surpassing $10 billion (roughly  Rs84,000 crore) in freight-on-board (FoB) worth between April and October of FY25, in response to IT Minister Ashwini Vaishnaw.  

This represents a 37 per cent development in comparison with the identical interval in FY24, a hit largely attributed to the Indian authorities’s Manufacturing-Linked Incentive (PLI) scheme. A good portion of the iPhones manufactured in India had been exported, with a smaller share assembly home demand.

Report development in iPhone manufacturing

In a publish on X (previously Twitter), Vaishnaw highlighted a report by Enterprise Insider that detailed Apple’s rising manufacturing efforts in India. Factoring in gross sales, distribution, advertising and marketing, and logistics, the $10 billion FoB manufacturing worth interprets to roughly $15 billion (roughly Rs 1,00,000 crore). Of this, iPhones value about $7 billion (Rs 59,000 crore) had been exported to worldwide markets.

October marked a very important month, with Apple reaching $2 billion (Rs 16,000 crore) in manufacturing worth in simply 30 days — a milestone for the corporate’s Indian operations. The expansion underscores Apple’s growing reliance on India as a producing hub, because of supportive authorities insurance policies and increasing infrastructure.

Foxconn, Tata, and Pegatron Drive India’s iPhone Manufacturing

The success of iPhone manufacturing in India is pushed by key gamers, with Foxconn main the cost, accounting for 56 per cent of Apple’s manufacturing capability within the nation. Tata Group has emerged as a crucial associate following its acquisition of Wistron’s plant, contributing 30 per cent of manufacturing.  

Pegatron, one other Taiwanese producer, rounds out the trio with a 14 per cent share.

This surge in manufacturing has additionally had a profound affect on job creation. Over the previous 4 years, Apple’s manufacturing efforts in India have generated roughly 1,75,000 jobs, with greater than 72 per cent of those positions held by girls, reflecting the corporate’s dedication to empowering various workforces.

Bold Targets for Future Progress

Apple’s growth in India reveals no indicators of slowing down. The corporate goals to attain $18 billion (roughly Rs 1,50,000 crore) in FoB worth by the top of FY25, which might translate into a complete manufacturing worth exceeding $25 billion (Rs 2,10,000 crore).

The PLI scheme continues to play a pivotal function in attracting world tech giants like Apple to India, bolstering the nation’s place as a key participant within the world electronics manufacturing ecosystem. As Apple’s footprint in India grows, the milestone reinforces the nation’s potential to change into a serious hub for high-tech manufacturing.