According to Bloomberg sources, the number of iPhones India sends to Europe and the Middle East is anticipated to quadruple to $2. 5 billion by March 2023 from the $1. 3 billion it exported the year prior to March 2022.
Since last April, when India started taking its efforts to become a key hub for the production of Apple electrical gadgets seriously, iPhone exports from India over the last five months have totaled $1 billion.
The rise in iPhone production in India, even though it is still a small amount by the standards of a rival nation like China, is a sign of the effectiveness of the domestic manufacturing policies pursued by Indian Prime Minister Narendra Modi as well as of Apple’s desire to increase its investment in India in order to compete with China and to avoid the geopolitical issues that come with it.
India is gradually assuming a significant role in the company’s China Plus One strategy, according to Navkindar Singh, an analyst with the International Data Corporation for Technology Research, who spoke to Bloomberg. “Apple’s manufacturing and export balance has experienced healthy growth,” Singh said. the accomplishment of its monetary incentive programme.
“Fox Cone, Western, and Pegatron, Apple’s Taiwanese hardware assembly partners, have factories where iPhone phones are made. They saw the manufacturing of the iPhone 11, 12, and 13, and are currently seeing the creation of the upcoming iPhone 14.
Apple is working on a long-term plan to diversify its production lines away from China in an effort to prevent a significant impact on its supply chain for many years. According to Bloomberg, it will take Apple about 8 years to move only 10% of its production capacity outside of China, where 98% of iPhones are currently produced.
India’s iPhone exports are anticipated to reach $2 billion.
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