iPhone exports from India surpasses $1 bn in 5 months

Wednesday 12th October 2022 06:24 EDT
 
 

Apple's iPhone exports from India have surpassed $1 billion in five months since April, showing the tech giant's expanding bet on the country amid New Delhi's push for domestic production.
According to reports, the number of iPhones exported from India, primarily to Europe and the Middle East, is expected to reach $2.55 billion in the year leading up to March 2023, nearly doubling from the previous year.
Despite contributing only a small portion of the world's iPhone production, Prime Minister Narendra Modi's goal is to position India as a viable alternative to China as the world's factory is encouraged by expanding exports. Due to tensions with the US government and nationwide lockdowns imposed by Xi Jinping's administration, which have hindered economic activity, Apple, which has historically produced the majority of its iPhones in China, is looking for alternatives.
Navkendar Singh, an analyst at tech researcher IDC, stated that "The strong expansion of Apple's manufacturing footprint and exports demonstrates how India is progressively becoming a key role in the company's China plus one strategy," he added. And this is a significant indication of success for India. "
Apple, which started making iPhones in India in 2017, started manufacturing the iPhone 13 here earlier this year and announced its plans for the latest iPhone 14.


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