New Delhi, Nov 25 (SocialNews.XYZ) Riding on the government's production-linked incentive (PLI) scheme, Apple’s iPhone production in the country has reached $10 billion in the seven months of this fiscal (FY25), with $7 billion in exports alone which is a record, the Centre said on Monday.
The tech giant manufactured/assembled $14 billion of iPhones in India last fiscal (FY24), with exporting more than $10 billion worth of iPhones.
In a post on X, Union Electronics and IT Minister Ashwini Vaishnaw said that this is yet another milestone for the smartphone PLI scheme in 7 months.
"$10 billion iPhone production by Apple with $7 billion exports. Total smartphone exports from Bharat crossed $10.6 billion in 7 months," the minister informed.
Minister Vaishnaw further stated that the Apple ecosystem created 1,75,000 new direct jobs in four years with "over 72 per cent women".
The Cupertino (California)-based tech giant touched Rs 60,000 crore (around $7 billion) in iPhone exports from India in the first seven months of the current fiscal (FY25). In the April-October period, the company exported iPhones at almost Rs 8,450 crore (nearly $1 billion) each month, as per industry data.
In the July-September period, Apple clocked an all-time revenue record in India. “We continue to be excited by the enthusiasm we're seeing in India, where we set an all-time revenue record. This has been an extraordinary year of innovation at Apple," said company CEO Tim Cook.
Amid the growing demand for its iPhones in aspirational Bharat, Apple clocked a 36 per cent increase in its operating revenue in India, surpassing Rs 66,700 crore (about $8 billion) in FY24. The tech giant also posted Rs 2,746 crore ($330 million) in profit last fiscal.
The company’s profit increased by 23 per cent in FY24 against Rs 2,229.6 crore ($268 million) in FY23.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz