Apple has become the first company from India to export smartphones worth $1 billion (₹81 billion) in a month, meeting the milestone in December 2022.
December was also a record month for India’s telecom industry, with mobile phone exports of over $1.23 billion (₹100 billion), according to industry data, the Economic Times reported.
Apple and Korean major Samsung have been the leading players for exporting mobile phones from India.
iPhone manufacturing unit in India
Apple, through its three contract manufacturers – Foxconn Hon Hai, Pegatron and Wistron – is producing and exporting iPhone 12, 13, 14 and 14+ models from India.
Besides the three manufacturers, some of the small exporting units from India are also reportedly exporting iPhones from India.
According to government estimates, India is likely to export mobile phones to the tune of $9 billion in FY23, up from $5.8 billion in the previous fiscal year.
Incidentally, India is seeing a surge in mobile and electronic exports, even as the country’s overall merchandise exports posted an over 12 percent drop in December 2022, vis-à-vis the corresponding month of the previous year.
India’s federal government has launched a production linked incentive (PLI) scheme, offering billions of dollars assistance to production units to promote the country as a global manufacturing hub.
The move is seen as an effort to wean away global biggies from China.
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