According to government sources, Apple intends to increase production in India by up to fivefold to around $40 billion (about 3.32 lakh crore) over the next 4-5 years. According to the official, who did not want to be identified, the company produced $7 billion in the previous fiscal year.
"In the next 4-5 years, Apple intends to increase production in India to more than USD 40 billion." It surpassed USD 7 billion in the previous fiscal year," the official stated. An email inquiry was sent to Apple, but no response was received.
Apple is currently manufacturing iPhones in India and has further plans to start manufacturing Airpods from next year. The officer said that Apple has no immediate plans to make iPads or laptops in the country.
"They have no plans to participate in the IT hardware PLI." They may arrive later, but for the time being, their priority is to increase existing production levels," the officer explained. In the fiscal year ending September 25, 2022, the company sold $191 billion in iPhones globally, as well as $38.36 billion in wearable, home, and accessories products.
The company reported a 4% drop in iPhone sales to $156.77 billion in the first nine months of the current fiscal year, as well as a slight decline in the wearable, home, and accessories segment to USD 30.52 billion. The company has grown to become India's largest exporter of mobile phones.