business / news / / The Financial Express
The filings show cumulative production of about $70 billion (FOB) over FY21–26 against an initial commitment of roughly $38.8 billion.
Cumulative iPhone production under India's PLI scheme reached $70 billion, nearly double initial targets.
KEY POINTS
- Actual smartphone exports hit $51 billion, significantly surpassing the committed $33 billion over the same period.
- India now manufactures one in four iPhones globally, with 76% of its smartphone exports being iPhones.
- Domestic value addition in iPhone manufacturing rose from 5% to 19% between FY21 and FY26.
- Apple's India launches now closely match China's, reducing the product introduction gap to near zero.
COMPANIES
Summarized by Newsio from The Financial Express. How we summarize →