Apple iPhone 16 to Be Globally Launched from Indian Factories: Ashwini Vaishnaw

By siliconindia  |  Tuesday, 10 September 2024, 17:43 IST

Apple iPhone 16 to Be Globally Launched from Indian Factories: Ashwini Vaishnaw
Union Railways and Electronics and IT Minister Ashwini Vaishnaw has announced that Apple's latest iPhone 16 will be produced and launched globally from Indian manufacturing plants. The new iPhones, produced under the 'Make in India' initiative, will be available in the domestic market starting September 20 and will also be exported internationally.
Minister Vaishnaw emphasized the significance of Prime Minister Narendra Modi’s 'Make in India' campaign, which is now instrumental in creating iconic products for the global market. He highlighted this achievement in a post on the X social media platform.
The production shift to India is significantly bolstered by the government’s production-linked incentive (PLI) scheme, which has helped boost iPhone exports to approximately $1 billion per month. The export value of iPhones from India surged to $12.1 billion in the fiscal year 2023-24, compared to $6.27 billion in 2022-23. The overall value of Apple’s operations in India reached $23.5 billion in the last fiscal year.
Apple's manufacturing expansion in India is set to create more than 10,000 direct jobs during the peak festival period. The company aims to produce over 50 million iPhones annually in India, as part of its strategy to diversify production away from China.
Tata Electronics, which operates two plants for Apple, along with Foxconn and Pegatron, stands out as the largest job creator in Apple’s Indian ecosystem. As Apple and other tech giants relocate manufacturing to India amid political stability and favorable policies, the country captured nearly half (40.5 percent) of the market share lost from China and Vietnam in the previous fiscal year.
Mobile phone exports from India reached nearly $16 billion in FY24, up from $11 billion in FY23, with electronic manufacturing in the country projected to hit around $250 billion in the next five years.