Apple and its vendors are aiming to assemble 32 percent of iPhone's global production volume and 26 percent of its value in India by 2026-27—a year after the final year of the five-year production-linked incentive (PLI) scheme for mobile devices.
This could translate into a production value of over $34 billion, assuming global iPhone sales remain consistent with 2023-24 (FY24) levels.
The estimates are based on discussions between Apple Inc and its vendors, along with central and state governments, regarding the assembly of products in India, according to sources. A query to an Apple Inc spokesperson did not receive a response.
For the first half of 2024-25 (FY25), Apple's vendors estimate a freight-on-board (FOB) production value of $9 billion. By the end of the financial year, it is projected that India will account for 17-18 percent of global iPhone production volume and 14 percent in terms of value.
This story is from the November 12, 2024 edition of Business Standard.
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This story is from the November 12, 2024 edition of Business Standard.
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