This is what export data shows-I phones worth $12.8 bn, which translates to about ₹1.08 lakh crores- crossing the mark on exports by up a whiplashing 42 percent. This stands in contrast, however, alongside the rise to nearly 46 percent for Indian production that's gained $17.5 bn of value or close to ₹1.48 lakh crore.
Production Linked Incentive (PLI) Scheme Impact
Indian PLI Scheme undertaken by the Government of India turned out to be a game changer for the country's manufacturing industry. It is catalyzing tremendous growth in productions, exports, and jobs for the people in the country.
Foxconn, Pegatron, and Wistron, international manufacturing giants created 1,85,000 jobs directly but more than 70% employees working are women in these companies.
Apple Benefits in Job creation and Producing Efficiency
Apple is emerging as one of the quickest growing generators of blue-collar employment in India. The production and export of Apple are providing jobs at the same time is serving as a precedent for the whole electronics manufacturing sector. Analysts believe that if Apple keeps going at the current pace, then its annual output may reach $20 billion in years to come.
India's Upswing in International iPhone Production
Indian is to make a significant contribution to global iPhone production. Currently, India's contribution is expected to rise to over 26% from around 14%. Hence, the current growth is due to the expansion of the market by Apple along with government support by exploiting the powerful manufacturing ecosystem of India.
