In May, iPhone exports from India hit a record ₹10,000 crore, pushing country’s the total smartphone exports to ₹12,000 crore. This growth in exports has sparked Indian officials’ hopes of attracting more U.S. companies, like Tesla, to move their supply chains to India.
What Happened? In the first two months of this fiscal year (April and May), smartphone exports from India more than doubled to ₹20,000 crore, up from ₹9,066 crore in the same period last year, according to data from the India Cellular and Electronics Association.
Per an Economic Times report, iPhones make up 80% of India’s smartphone exports, with the rest coming from Samsung and some local brands.
The record exports between April and May show Apple’s effort to establish India as its second major base for iPhone production, according to experts. In the fiscal year 2023, iPhone exports from India reached $5 billion (₹40,984 crore), making it the first single brand to achieve this.
As Apple has been moving its supply chains away from China, India is becoming an increasingly significant hub for iPhone production. The company is also considering producing AirPods in India.
During Prime Minister Narendra Modi’s U.S. visit from June 21-24, the Indian delegation plans to use Apple’s success in India as a model to persuade other American companies to move their supply chains to India. The main areas of focus will be semiconductors, electric vehicles, and other important emerging technologies.
The Indian delegation has planned multiple industry engagements, especially with companies in critical emerging technologies and supply chains, officials said.
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