India to make up 7% of iPhones assembled in the world, say experts

Under the PLI in FY23, the collective commitment of Apple vendors to be eligible for the scheme was to produce phones with an FOB value of Rs 24,000 crore

Surajeet Das Gupta New Delhi
Apple Inc, Apple

Photo: Bloomberg

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Apple Inc’s three vendors in India have assembled iPhones whose free on board (FOB) value hit $7 billion (Rs 60,000 crore) for FY23, including both for exports and domestically. The data is based on details provided by the vendors — Foxconn, Wistron and Pegatron — to the government.
According to estimates by experts, in the second year of the production-linked investment (PIL) scheme for mobile devices, India will account for around 7 per cent of all iPhones assembled in the world. Its commitment, based on PLI targets, is to shift 12-18 per cent of the global production volume to India by the end of the scheme. In FY22 (which was for a period of eight months), the Apple vendors (Pegatron had not started assembly yet) had assembled iPhones worth around Rs 16,500 crore, nearly a fourth of what they have achieved this financial year.
According to the Indian Cellular and Electronics Association, Apple has hit exports of Rs 41,000

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First Published: Apr 17 2023 | 9:56 PM IST

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