Apple Targets iPhone Production Worth Rs 1 Lakh Cr In India By FY24 End
- Apple has increased manufacturing capacity in India, achieving over INR 60,000 Cr in iPhone production during the initial seven months of the fiscal year.
- The company aims to produce iPhones worth INR 1 Lakh Cr in India by March 2024, with plans to potentially reach this target in the first quarter of FY25 if not attained this fiscal year.
- Around 70% of iPhones made in India are exported, with Apple exporting INR 40,000 Cr ($5 Bn) worth of iPhones from April to October in the current fiscal year.
- This production surge indicates Apple’s commitment to expanding its manufacturing base in India and signifies its long-term vision for the region.
- Apple’s efforts signal a strategic focus on India’s manufacturing landscape, suggesting a continued push to bolster production capabilities in the country.