Apple has become the first tech company in India to export $1 Billion worth of smartphones in a month, with greater growth envisioned
On January 18, Patently Apple posted a report titled "India is aggressively assisting Apple in building a new supply chain outside of China" Today, as the iPhone maker continues to move its manufacturing away from China, India's trade minister stated at a conference that Apple Inc wants India to account for up to 25% of its production from about 5%-7% in 2022.
Trade minister Piyush Goyal is on record stating that "Apple, another success story," said, pitching India as a competitive manufacturing destination. "They are already at about 5-7% of their manufacturing in India. If I am not mistaken, they are targeting to go up to 25% of their manufacturing. They launched the most recent models from India, manufactured in India."
Cupertino, California-based Apple has bet big on India since it began iPhone assembly in the country in 2017 via Wistron and later with Foxconn, in line with the Indian government's push for local manufacturing.
Ashwini Vaishnaw, Indian's electronics and information technology minister, tweeted on Monday that Apple's exports from India had hit $1 billion in December. For more read the full Reuters report.
The Economic Times of India added that "Apple has become the first company from India to export smartphones worth $1 billion in a month, meeting the milestone in December 2022.
Appel's three contract manufacturers are producing and exporting iPhone 12, 13, 14 and 14+ models from India. Apple's contract manufacturers - Foxconn Hon Hai and Pegatron, both located out of Tamil Nadu, and Wistron, which is in Karnataka - are participants in the government's smartphone production linked incentive (PLI) scheme launched in April 2020.