US-based iPhone maker Apple is steadily expanding its operations in India, and the government has been in regular contact with the company to support its Minister for Business, Trade and Industry, Piyush Goyal.
He said that’s how the electronics industry works, first creating basic equipment and then constantly sourcing different components to add to their ecosystem.
“Apple continues to expand its operations in India… We are in regular contact with Apple, MeITY (Ministry of Electronics and Information Technology) is also in contact with them… We are holding them by the hand in a way, the eyes of the whole world are on Apple directed,” he said when asked about Apple’s plan to open a full-fledged manufacturing facility in India.
The company sources iPhones from electronics giants – Foxconn, Wistron and Pegatron in India.
The minister has previously stated that India’s exports of mobile and electronic goods have doubled in the last year.
“Apple itself exported about $5 billion worth of goods from India last year and plans to source 25 percent of its global production from India over the next 4 or 5 years,” he said.
On Thursday it was time reported that mobile phone exports from India are nearly US$11.12 billion (approx.
The India Cellular and Electronics Association (ICEA) said mobile phone exports from India have doubled, topping Rs 90,000 crore in fiscal year (FY) 2022-23, against Rs 45,000 crore in FY22.
“No economy or economic sector can become a great and dynamic world economy without large exports. The juggernaut of mobile phone exports continues. On the 100 per cent growth in mobile phone exports which have exceeded Rs 90,000 crore for FY 2022-23 Electronics exports have also grown by 58 per cent to Rs 1,85,000. It is extremely gratifying that we exceeded the target figure of Rs 75,000 for the year,” said ICEA Chairman Pankaj Mohindroo.
According to industry sources, Apple is estimated to have accounted for a 50 percent share of the US$5.5 billion (approx. Rs. 45,000 billion) ‘Made in India’ iPhone exports.
