In a remarkable display of local manufacturing prowess, Apple has increased iPhone production in India. Prime Minister Narendra Modi announced that one out of every seven iPhones worldwide is now being manufactured in the country. India is also exporting a record number of Apple products, showcasing the success of the production-linked incentive (PLI) scheme.
Apple, the second-largest mobile phone manufacturer globally, aims to have around 25% of all iPhones made in India by 2028. The company achieved a record first-quarter shipment in the country, with a 19% year-on-year growth. By expanding its network of local vendors, Apple is reducing its reliance on China and creating numerous job opportunities.
The company experienced significant double-digit growth in India in the March quarter, positioning the country to become Apple's third-largest market in the next two to three years. In 2020, Apple shipped approximately 10 million iPhones in India, capturing a 7% market share. With over 850 million mobile phone users in the country, India has the potential to reach over a billion smartphone users in the coming years.
