NEW DELHI: Apple’s iPhone exports from India crossed $1 billion in the five months since April, according to people familiar with the matter, reflecting the tech giant’s growing bet on the nation amid New Delhi’s push for local manufacturing.
The outbound shipments of India-made iPhones, mainly to Europe and the Middle East, are set to reach $2.5 billion in the 12 months through March 2023, almost double when compared to the year through March 2022, the report said, citing sources.
Apple started making the iPhone 13 in India earlier this year, and the company announced last week its plans to manufacture the latest iPhone 14. The tech giant has been manufacturing iPhones in India from 2017.
While India makes up just a small fraction of iPhone output, rising exports bode well for Prime Minister Narendra Modi’s plan to make the country an alternative to China as factory to the world. Apple, which long made most of its iPhones in China, is seeking alternatives as Xi Jinping’s administration clashes with the US government and imposes lockdowns across the country that have disrupted economic activity.
“The healthy growth in Apple’s manufacturing scale and export shows India is gradually assuming an important position in the company’s China plus one strategy,” said Navkendar Singh, an analyst at tech researcher IDC. “And for India, this a big sign of the success of its financial incentives scheme.”
Apple representatives didn’t immediately respond to an email seeking comment. The Cupertino, California-based company flirted with the idea of making its prized iPhones in India for years before Modi’s $6 billion incentive push in 2020 drove the US tech giant to get its suppliers to ramp up production.
To be sure, India is still far behind China. About 3 million iPhones were made in India last year, compared with 230 million in China, according to Bloomberg Intelligence estimates.
The outbound shipments of India-made iPhones, mainly to Europe and the Middle East, are set to reach $2.5 billion in the 12 months through March 2023, almost double when compared to the year through March 2022, the report said, citing sources.
Apple started making the iPhone 13 in India earlier this year, and the company announced last week its plans to manufacture the latest iPhone 14. The tech giant has been manufacturing iPhones in India from 2017.
While India makes up just a small fraction of iPhone output, rising exports bode well for Prime Minister Narendra Modi’s plan to make the country an alternative to China as factory to the world. Apple, which long made most of its iPhones in China, is seeking alternatives as Xi Jinping’s administration clashes with the US government and imposes lockdowns across the country that have disrupted economic activity.
“The healthy growth in Apple’s manufacturing scale and export shows India is gradually assuming an important position in the company’s China plus one strategy,” said Navkendar Singh, an analyst at tech researcher IDC. “And for India, this a big sign of the success of its financial incentives scheme.”
Apple representatives didn’t immediately respond to an email seeking comment. The Cupertino, California-based company flirted with the idea of making its prized iPhones in India for years before Modi’s $6 billion incentive push in 2020 drove the US tech giant to get its suppliers to ramp up production.
To be sure, India is still far behind China. About 3 million iPhones were made in India last year, compared with 230 million in China, according to Bloomberg Intelligence estimates.
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