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Apple to manufacture iPhones worth Rs 47,000 crore in India: Will iPhone 12, 13 get cheaper?
Apple contract manufacturers such as Foxconn, Wistron and Pegatron currently build and assemble iPhones in India.
Highlights
- The firms are required to manufacture smartphones worth Rs 8,000 crore each to get PLI benefits.
- The companies are likely to export 60 per cent of the production of iPhones in the country.
- Apple is expected to manufacture iPhones worth $6 billion (Rs 47,000 crore) in India.
New Delhi: Apple appears to be all set to ramp up its production in India. The Cupertino-based tech giant is now reportedly planning to manufacture smartphones worth Rs 47,000 crore in the country in the ongoing financial year. The company is planning to take advantage of the production linked incentives (PLI) schemes aimed at promoting ‘Make in India’ and making India self-reliant.
Apple contract manufacturers such as Foxconn, Wistron and Pegatron currently build and assemble iPhones in India. The firms are required to manufacture smartphones worth Rs 8,000 crore each to benefit from the PLI schemes that also aim to increase the country’s exports.
The companies are likely to export 60 per cent of the production of iPhones in the country. As of now, iPhones manufactured in India account for less than 1.5 per cent of Apple’s international sales.
Apple’s increasing dominance in the smartphone market and the Covid-19 pandemic forced the tech giant to look for new products and assemble units. The company has also started assembling iPhones in Brazil as well.
According to a report by ET, Apple is expected to manufacture iPhones worth $6 billion (Rs 47,000 crore) in India. The original equipment manufacturer started manufacturing iPhone SE in 2017.
Currently, Apple manufacturers iPhones 11, 12 and 13 in India. Wistron and Pegatron mostly manufacture iPhone 12 at their Bengaluru and Tamil Nadu-located plants, respectively. Meanwhile, Foxconn is currently producing iPhones 11, 12 and 13 at its Tamil Nadu unit. Also Read: 'This is nothing but harassment': Gujarat HC raps SBI for denying 'no-dues' certificate to farmer for just 31 paise
If Apple will boost its manufacturing in India, the prices of a few iPhone models may come down, as the company will be saving a lot on import taxes and shipping costs. However, in the end, it will be on the company if it decides to extend the benefits to its customers or not. Also Read: Decision on crypto: Here is what FM Nirmala Sitharaman said on virtual currency regulation
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