India's mobile manufacturing sector is experiencing unprecedented growth, with tech giant Apple playing a pivotal role. The latest industry data indicates that Apple is on track to exceed the previous fiscal year's export figures, aiming for over Rs.50,000 crore (more than $6 billion) in exports during the first six months of FY25.
In the fiscal year 2023-24, iPhone exports from India surged to over $10 billion, up from $6.27 billion the previous year. Apple's total operations in India reached a remarkable value of $23.5 billion during this same period, with $14 billion of iPhones assembled locally.
This upward trend is expected to accelerate as India’s semiconductor market is projected to surpass $100 billion in revenue by 2030. This growth is fueled by government initiatives like the production-linked incentive (PLI) scheme, which aims to enhance digital infrastructure across various industries.
The semiconductor industry, particularly in mobile handsets, IT, and telecom sectors, is driving significant revenue growth, contributing over 75% of the total revenues, according to a report by the India Electronics and Semiconductor Association (IESA) and Counterpoint Research. This increase is attributed to a rise in social media usage, the popularity of over-the-top (OTT) platforms, affordable pricing, accessible data, and the expansion of the 5G network.
Experts highlight that to achieve the ambitious goal of $500 billion in local electronics manufacturing by FY30, the industry must focus on boosting export capabilities to rank among the top three global exporters in this sector, particularly in mobile manufacturing.
Following Apple's success, Google is also preparing to manufacture Pixel smartphones in India, with plans to export these devices to Europe and the US. The company is set to commence commercial production through partnerships with Foxconn and Dixon Technologies' subsidiary Padget Electronics, having already started trial production in Tamil Nadu with Foxconn.
According to data from the India Cellular and Electronics Association (ICEA), mobile phone production in India has skyrocketed from ₹18,900 crore in 2014-15 to an estimated ₹4.10 lakh crore in FY24, reflecting an impressive 2,000 percent increase, largely driven by the PLI scheme.
Apple is going to suffer a big setback, know what is the matter
Apple's iPhone 16 Banned in Indonesia: Here’s Why!
Apple Set to Launch New M4 Chip MacBook Air Models in Early 2025
