New Delhi: Apple is all set to increase its production in India. The Cupertino-based tech giant is now reportedly planning to manufacture smartphones worth Rs 47,000 crore in the country in the current financial year. The company is planning to take advantage of Production Linked Incentive (PLI) schemes to promote ‘Make in India’ and to make India self-reliant.
Apple contract manufacturers such as Foxconn, Wistron and Pegatron currently manufacture and assemble iPhones in India. Firms need to make smartphones worth Rs 8,000 crore each to benefit from the PLI schemes, which also aim to increase the country’s exports.
Companies can export 60 per cent of iPhone production in the country. As of now, iPhones made in India account for less than 1.5 percent of Apple’s international sales.
Apple’s growing dominance in the smartphone market and the Covid-19 pandemic forced the tech giant to look for new products and assemble units. The company has also started assembling the iPhone in Brazil.
According to an ET report, Apple is expected to make iPhones worth $6 billion (Rs 47,000 crore) in India. The original equipment maker started manufacturing the iPhone SE in 2017.
Currently, Apple manufactures iPhones 11, 12 and 13 in India. Wistron and Pegatron mostly manufacture the iPhone 12 at their Bengaluru and Tamil Nadu plants respectively. Meanwhile, Foxconn is currently manufacturing the iPhone 11, 12 and 13 at its Tamil Nadu unit. Read also: ‘This is nothing but harassment’: Gujarat HC slams SBI for denial of ‘no-dues’ certificate to farmer for just 31 paise
If Apple ramps up its manufacturing in India, the prices of some iPhone models may come down, as the company will save a lot on import taxes and shipping costs. However, in the end, it will be up to the company whether it decides to pass on the benefits to its customers or not. Read also: Decision on Crypto: What FM Nirmala Sitharaman said on Virtual Currency Regulation:
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