Mumbai, Jan 10: As India doubles down on local manufacturing, Apple assembled iPhones worth more than Rs 1 lakh crore in India in 2023, according to industry data.Industry sources told IANS on Tuesday that out of Rs 1 lakh crore, Apple exported iPhones worth approximately Rs 65,000 crore to other countries.
However, according to industry sources, the actual market value of the iPhones manufactured/assembled in India could be much higher, depending on taxes in other countries.
The Economic Times was the first to report on Apple’s manufacturing data in the country. Apple’s manufacturing in India is part of the goals set under the production-linked incentive (PLI) scheme.
Riding on the local manufacturing growth, mobile phone exports from the country surpassed $9 billion (more than Rs 75,000 crore) from April to November in the current fiscal year, according to the India Cellular and Electronics Association (ICEA).