Apple has been expanding its operations in India in recent years, and the Indian government has been in regular touch with the company regarding its business plans and initiatives in the country.
Apple has been making significant investments in India, including opening retail stores and manufacturing facilities, as it seeks to tap into the country’s large and growing market of tech-savvy consumers.
India and the government are in regular contact with the company to support its operations, according to Commerce and Industry Minister Piyush Goyal.
He explained that the electronics industry works in this manner: they first put together a basic setup and then continue to source different components to add to their ecosystem.
“Apple is continuously expanding their operations in India… We are in regular touch with the Apple, MeITY (Ministry of Electronics and Information Technology) is also in touch with them… We hand-hold them because, in a way, the eyes of the whole world are fixed on Apple,” he said when asked about Apple’s plan to open a full-fledged manufacturing unit in India.
In India, the company gets iPhones made by electronics behemoths Foxconn, Wistron, and Pegatron.
The minister previously stated that India’s exports of mobile and electronic goods have more than doubled in the last year.
“Apple itself has exported about USD 5 billion worth of goods last year from India and they are planning to have 25 percent of their global production coming out of India in the next 4 or 5 years,” he said.
According to industry body ICEA and industry sources, mobile phone exports from India reached close to $11.12 billion (roughly Rs. 90,000 crores) on Thursday, with iPhone maker Apple accounting for roughly half of the total exports.
According to the India Cellular and Electronics Association (ICEA), mobile phone exports from India will exceed Rs 90,000 crore in the fiscal year 2022-23, up from Rs 45,000 crore in FY22.
“No economy or sector in the economy can become a great and vibrant global economy without large exports. The mobile phone export juggernaut continues. Riding on the 100 percent growth in mobile phone exports, which have crossed Rs 90,000 crore for FY 2022-23, electronics exports have also grown by 58 percent to Rs 1,85,000 crore. It is extremely satisfying that we have crossed the targeted figure of Rs 75,000 crore for the year,” ICEA Chairman Pankaj Mohindroo said.
According to industry sources, Apple has a 50 percent market share with $5.5 billion made in India’s iPhone exports (roughly Rs. 45,000 crore).
The Indian government has been supportive of Apple’s efforts in the country, with officials expressing a desire to attract more foreign investment in the technology sector. The government has also made efforts to ease regulations and streamline processes to make it easier for companies like Apple to do business in India.
Apple’s expanding operations in India are seen as a positive development for both the company and the country, as it creates jobs and contributes to economic growth.
