Apple's success in India: 1.5 lakh jobs created and export doubled
The company has accomplished a major goal by exporting $10 billion worth of iPhones this year from India experiencing a 100% increase from last year
Apple has been a boon for the Indian market. The Apple ecosystem is the largest blue-collar job creator in India, employing 1,50,000 individuals since the enactment of the production-linked incentive (PLI) scheme for smartphones in August 2021. The company has accomplished a major goal by exporting $10 billion worth of iPhones this year from India experiencing a 100% increase from last year.
A report from Indian Express suggests that the next 3 years may experience an expansion in the supplier chain ecosystem employing around 5 lakh individuals as expected by the officials in the Electronics and IT ministry.
Apple’s expansion in India is setting the market ablaze forcing its foreign suppliers to come to India. IT Minister Ashwini Vaishnaw said that suppliers of camera modules, communications, power supply or digital signal processing are actively looking to set up a base in India.
Government officials said, around 5 crore iPhones can be manufactured annually in India. One of every seven iPhones that was sold globally was made in India. The PLI scheme has amplified the growth initiative as the smartphone manufacturers will receive 4,500 crore for meeting their FY23 targets.
IT minister Ashwini Vaishnav told Indian Express that “Contract manufacturing is a complex process and requires precision work. Over the last few years, Indian manufacturers have perfected these processes and are meeting global standards and requirements.”
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