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NRIPage | Articles | Apple's iPhone Production in India to Reach 25% of Global Shipments by 2025 | Get Finance & Economics News. Master Your Financial Future - NRI Page
Apple’s iPhone production in India has seen a remarkable increase, jumping from less than 1% in 2017 to 10% in 2023. According to a report by global investment firm Jefferies, this surge is largely attributed to India's 'Make in India' initiative and the production-linked incentive (PLI) scheme. The company aims to further boost its local manufacturing, with plans to scale up production to 25% of global shipments by 2025. This strategic move aligns with Apple’s goal to diversify its supply chain and reduce dependence on China.
In preparation for the upcoming iPhone 16 Pro and Pro Max models, Apple is set to launch these new devices in India shortly after their global debut. The company has significantly ramped up its manufacturing capabilities in India, targeting an annual production of more than 50 million iPhones. Additionally, iPhone exports from India have seen a sharp increase, reaching $12.1 billion in 2023-24, up from $6.27 billion the previous year. Overall, Apple’s India operations were valued at $23.5 billion in the last fiscal year.
The report also highlights the broader impact of the PLI scheme, which is being extended across 14 sectors, including electronics and semiconductors, to boost local manufacturing. As electronics exports from India rise, the gap between imports and exports underscores the potential for further growth in domestic production. With the launch of the iPhone 16 series and aggressive marketing strategies, Apple is poised to continue its growth momentum in India, capitalizing on the increasing demand for the latest technology.
