
India is likely to produce one in two of the world’s iPhones by 2027, compared with the current state of less than 5 per cent, news reports on Monday suggested. Data shows that Apple exported more than $2.5 billion of iPhones from India from April to December, nearly twice the previous fiscal year’s total.
This analysis was reported by the South China Morning Post, according to a forecast last week by Luke Lin, an analyst at the research unit of Taiwan’s DigiTimes newspaper. JPMorgan had earlier predicted that India would assemble 25 per cent of total iPhones worldwide by 2025.
Breaking away from its tradition, Apple Inc. began assembling its latest iPhone models in India, a key win for Prime Minister Narendra Modi’s “Make in India” campaign.
The US tech giant began assembling its latest iPhone models in India only last year, a significant break from its practice of reserving much of that for giant Chinese factories run by its main Taiwanese assemblers including Foxconn.
India’s vast workforce, Modi’s support and a thriving local market make it a prime candidate to take on more electronics manufacturing. Foxconn, Apple’s largest supplier, began building facilities in the country more than five years ago in anticipation of a need to extend its geographic range.
One recent selling point is a raft of new government incentives, a cornerstone of Modi’s drive to make India an electronics manufacturing hub. Foxconn has won Rs 3.6 billion of benefits in the first year of the so-called production-linked incentives (PLI) scheme.
Read more at: https://economictimes.indiatimes.com/industry/cons-products/electronics/by-2027-every-2nd-iphone-likely-to-be-manufactured-in-india/articleshow/97052072.cms
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