Indian Economy News

Apple is the first company to export phones worth US$ 1 billion in a month from India

  • IBEF
  • January 24, 2023

As per a report by the Economic Times, Apple has become the first company to export smartphones worth US$ 1 billion (Rs. 8,100 crores) in a month from India. The month of December witnessed India’s highest mobile phone exports, worth about US$ 1.2 billion (Rs. 10,000 crores).

Previously, Apple and Samsung were leading the mobile exporters, with Samsung at the top. However, in November, Samsung was overtaken by Apple to become the highest exporter from India. Apply currently manufactures iPhones 12, 13, 14, and 14+ in India, and the production of these phones is undertaken by three manufacturers- Foxconn, Wistron, and Pegatron, along with some other small exporters. The manufacturing facilities of Foxconn and Pegatron are both located in Tamil Nadu, whereas Wistron's facility is based out of Karnataka.

According to Mr. Pankaj Mohindroo, the Chairman of India Cellular and Association (ICEA), mobile exports are the beacon of the government's visionary production-linked incentive (PLI) schemes. He also added that lowering the input tariffs is important to keep India’s smartphone exports competitive and growing.

According to data from the commerce ministry, exports of electronics goods in April-December 2022 reached US$ 16.67 billion, which is 51.56% higher than US$ 10.99 billion during the previous year.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.