iPhone maker Apple has plans to scale up production in India by over five-fold to around USD 40 billion (about Rs. 3.32 lakh crore) in the next four to five years, according to Indian government sources.
According to the official, who did not wish to be named, the company has crossed the USD 7 billion production mark in the last financial year.
“Apple has plans to increase production in India to over USD 40 billion in the next 4-5 years. It has crossed USD 7 billion in the last fiscal,” the official said, according to a PTI report from New Delhi yesterday.
An email query sent to Apple did not elicit any reply. Apple manufacturers iPhones in India and has plans to start manufacturing Airpods from next year.
The official said that Apple has no immediate plans to make iPads or its laptops in India.
“They don’t have any plans to participate in IT hardware PLI. They may come at a later stage but as of now their focus is to scale up existing production levels,” the official said.
The company globally sold iPhones worth $191 billion and products worth $38.36 billion in the wearable, home and accessories segments in the financial year ended on September 25, 2022.
In the first nine months of the current fiscal, the company recorded about a four percent dip in iPhone sales at $156.77 billion and a slight decline in the wearable, home and accessories segment at USD 30.52 billion. The company has become the largest exporter of mobile phones from India.According to industry sources, sales of Apple’s iPhone 15 series registered a 100 per cent growth compared to that of the iPhone 14 series on the launch day on Friday.
Apple has launched four models in the iPhone 15 series. Two variants — iPhone 15 and iPhone 15 Plus — are also being made in India.