Apple’s iPhone exports from India have witnessed a significant surge in recent months, marking a remarkable growth for the tech giant. According to a report by the Economic Times, iPhone exports from India reached ₹10,000 crore in May 2023, showcasing a remarkable increase from ₹9,066 crore during the same month the previous year. This growth of over 10% reflects a combination of several factors that have contributed to Apple’s success in the Indian market.
Apple’s Focus on the Indian Market
In recent years, Apple has been progressively increasing its focus on India. The company’s strategic moves include the launch of its first online store in India in 2020. And followed by the opening of two retail stores in Mumbai and New Delhi in 2023.
Government’s Production-linked Incentive (PLI) Scheme
One of the driving forces behind the surge in iPhone exports from India is the ambitious Production-linked Incentive (PLI) scheme introduced by the Indian government. The scheme offers incentives to companies engaged in smartphone manufacturing within India.
Positive Implications for the Indian Economy
The surge in iPhone exports from India holds great significance for the Indian economy. It serves as a positive development, indicating the country’s growing potential as a manufacturing hub.
Geopolitical Factors and Diversification
Another noteworthy aspect contributing to Apple’s increased focus on India is the ongoing geopolitical tension between the United States and China. As the trade relations between these two countries remain strained, Apple aims to diversify its supply chain . India, with its abundant skilled workforce and expanding manufacturing sector, presents an attractive alternative for Apple’s operations.
Future Growth and Prospects
With Apple’s ongoing investments in India, it is highly likely that the company’s iPhone exports from the country will continue to experience growth. The combination of a burgeoning middle class, the government’s support through the PLI scheme. Apple’s dedication to expanding its market share all contribute to the positive outlook for the company’s operations in India.
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