Apple’s export benchmark of $1 billion in a month is a success story of the government’s ambitious production-related incentive (PLI) schemes.
Tech giant Apple made history by becoming the first company to export $1 billion worth of smartphones from India in a single month. Apple exported Rs 8,100 crore worth of iPhones in December 2022, bringing the total export of smartphones to Rs 10,000 crore, according to Economic Times. This is an important impetus for the government’s Make in India campaign.
Apple and Samsung have been the leaders in mobile phone exports from India. However, Apple has recently overtaken Samsung to become the largest exporter of mobile phones, according to government data.
Apple’s export benchmark of $1 billion in a month is a success story of the government’s ambitious production-linked incentive (PLI) schemes, which have been extended to 13 other sectors, including smartphones.
The PLI program aims to transform India into a manufacturing hub for smartphones, electronics and more. Manufacturers are required to submit regular data on production, exports, investments and jobs to the government under the scheme.
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The company manufactures and exports several iPhone models including iPhone 12, 13, 14 and 14+ from India through its three contract manufacturers – Foxconn Hon Hai, Pegatron and Wistron based in Tamil Nadu and Karnataka. These manufacturers are participants in the Smartphone Production-Linked Incentive (PLI) program launched in April 2020.
Aside from the three contract manufacturers, there are a few smaller Indian companies that export iPhones.
According to government estimates, India is expected to export US$9 billion worth of mobile phones in FY23, up from US$5.8 billion in FY22.
India’s export of electronic goods has seen significant growth in FY23. According to the Department of Commerce, total exports of electronic goods reached US$16.67 billion between April and December 2022, up 51.56 percent from the same period last year.
(Edited by : Hieronymus Anton)
