Export of Rs.50 thousand crore iPhones from India

Apple's iPhone manufacturing facility in India is growing rapidly. In the first six months of this year, there are reports that iPhones worth about 6 billion dollars (more than Rs. 50 thousand crores) have been exported. In total, these exports are expected to cross 10 billion dollars (about Rs. 85 thousand crores) in the financial year 2024. This is like a third growth compared to last year's sales.

Apple is rapidly expanding its iPhone manufacturing network in India using local subsidies and skilled workers. Tensions between America and China have increased recently. With this, New Delhi is playing a key role in achieving iPhone's goals of reducing dependence on Beijing.

Foxconn and Pegatron, which are already major suppliers to Apple, have teamed up with Tata Electronics. Foxconn has set up an assembly unit on the outskirts of Chennai. Between April and September, iPhones worth 1.7 billion dollars were exported from the Tata Group factory in Karnataka. Tatas bought this factory from Wistron.

The iPhone has become the second largest export product from India to America. In the first five months, these were worth 2.88 billion dollars, according to the Federal Trade Ministry data. On the other hand, in the Indian market, Apple phones have got only 7 percent share. New retail stores have been opened here. The first store was opened in New Delhi by the company's CEO Timkuk himself. Bloomberg estimates that iPhone sales in India will reach $33 billion by 2030. Apple is growing rapidly in India.