Summary:

Apple and its suppliers aim to assemble 32% of global iPhone production and 26% of its value in India by FY2026-27, following the end of the Production-Linked Incentive (PLI) scheme. This transition could result in a production value exceeding $34 billion, assuming global iPhone sales remain consistent. In FY2024-25, India is projected to contribute 17-18% of global production volume and 14% of production value, with the first half expected to be worth $9 billion FOB.

In FY2023-24, India accounted for 12-14% of global iPhone production, totaling around $14 billion. This value is expected to rise to $18 billion by FY2024-25, with a market value of $27 billion. The shift of iPhone manufacturing from China to India is significant, as iPhones represent 51% of Apple's global revenue. The introduction of the iPhone 16 Pro series, assembled in India, will further boost this value and support the Indian economy.

Source: IBEF 

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