This remarkable acceleration, a direct manifestation of Apple Inc.’s production in India, is increasingly solidifying the position of the country on the global manufacturing map.
India’s surge in technology acquisition has taken a major leap with the iPhone exports doubling to a staggering $10 billion, marking a significant milestone in the nation’s digital transformation. This remarkable acceleration, a direct manifestation of Apple Inc.’s production in India, is increasingly solidifying the position of the country on the global manufacturing map.
Apple’s flagship iPhone models which were previously manufactured mostly in China, are now being largely produced in India. This expansion has been driven by Apple’s assembly partners Foxconn and Wistron. Both of which have dedicated significant resources and production lines in India.
The production capacity has increased parabolically in the recent years. Reports cite that iPhone production in India crossed $10 billion for the first time in 2020. These figures paint an impressive picture of India’s manufacturing potential. One which has been tapped into by the tech giant, Apple, through its ‘Make in India’ initiative.
A consistent leveraging of this manufacturing potential should also serve as a stimulus for component manufacturers. Recognizing this, India is now actively wooing component makers to start establishments in the country. Proving its merit as a global production hub.
The move seamlessly coincides with India’s aggressive push to reduce dependency on China and other foreign markets. This shift towards a more self-reliant manufacturing sector is a product of the nation’s Production Link Incentive (PLI) scheme, which aims to attract foreign companies to set up production units in the country.
PLI Scheme
With the PLI scheme, India’s technology manufacturing sector stands to benefit. From a broad spectrum of advantages such as job creation, increased domestic value addition, and improved exports. This is a strategic move hoping to attract more component makers, thereby creating an integrated manufacturing ecosystem.
Evidently, the doubling of iPhone exports stands as a testament to India’s growing manufacturing prowess. And this new era can potentially result in a significant socio-economic shift. The tech industry in India can be expect to boom with these initiatives. Paving the way for more tech giants to manufacture their products in the country. Thus, the incredible leap in iPhone exports serves as a sign of greater and richer possibilities for India’s manufacturing future.
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