Apple iPhone has taken Prime Minister Narendra Modi’s government’s ‘Make in India’ dream to new heights. It was confirmed only after Apple entered the country that the export of smartphones from India is going to increase, but in the first two months of the financial year 2023-24, the export of smartphones worth Rs 20,000 crore from the country is heartening. This is almost double the export of Rs 9,066 crore in the first two months of the last financial year 2022-23.
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According to the data of the India Cellular and Electronics Association, smartphones worth Rs 20,000 crore were exported from India in April-May. In this, smartphones worth Rs 12,000 crore have been exported only in the month of May. The biggest surprise is that out of the total smartphones exported in the month of May, only Apple iPhones worth Rs 10,000 crore were exported.
The success of PLI Scheme
Apple iPhone accounts for 80 percent of the country’s total smartphone exports. The rest of the companies have Samsung of South Korea and some local brands of India, which export smartphones from here. Earlier in the last financial year 2022-23, Apple exported iPhones worth $ 5 billion from India. It became the first brand to achieve such a goal.
The increase in the export of Apple iPhones from India is being considered a success of the government’s PLI scheme. Under this scheme, the government is trying to promote local manufacturing of smartphones and electronics goods in the country.
Apple’s success will be useful to woo Tesla
Recently, Apple has increased its focus on India. The company has also opened its retail stores in cities like Mumbai and Delhi. This success of Apple can help in wooing other American companies to come to India, especially Tesla. Prime Minister Narendra Modi is currently on a visit to America, during which he is to have meetings with several American companies.
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During this meeting, India can present Apple’s success and PLI scheme as an example. The government wants American companies to shift their supply chain from China to India.
