India’s Global Launch for iPhone 16
Union Railways and Electronics & IT Minister, Ashwini Vaishnaw, announced exciting news about the iPhone 16. He revealed that Apple’s newest iPhone is being produced in India and will be launched worldwide from Indian manufacturing plants. These ‘Make in India’ iPhones will be available in the country starting September 20, and they will also be exported to other countries.
Apple’s latest iPhone 16 being produced and launched globally from Indian factories,” Minister Vaishnaw proudly said. He added, “Prime Minister Narendra Modi’s ‘Make in India’ initiative is now driving the creation of iconic products for the world,” in a post on the social media platform X.
iPhone Exports Soar
Thanks to the government’s production-linked incentive (PLI) scheme, iPhone exports are booming, clocking around $1 billion each month. According to the government, Apple’s ecosystem alone has provided jobs to more than 200,000 people, leading to significant growth.
A Big Jump in iPhone Exports
The iPhone exports from India saw a huge rise, jumping to $12.1 billion in 2023-24 from $6.27 billion in 2022-23. Apple’s overall India operations reached an impressive $23.5 billion in value in the last fiscal year (FY24).
Hiring Surge in iPhone Factories
With the festive season approaching, iPhone factories in India are gearing up to hire more than 10,000 people directly. Apple has big plans to manufacture over 50 million iPhones in India each year, as part of its strategy to shift some production away from China.
Tata Electronics Leading Job Creation
Tata Electronics, operating two plants for Apple, stands out as the biggest job creator in Apple’s ecosystem. Other significant contributors include Foxconn and Pegatron.
India Captures Lost Market Share
As tech giants like Apple continue shifting iPhone manufacturing to India amid political stability and friendly government policies, India has made significant strides. The country captured almost half (40.5%) of the market share lost by China and Vietnam in the last fiscal year.
Mobile Phone Exports on the Rise
Mobile phone exports from India reached nearly $16 billion in FY24, up from $11 billion in FY23. The overall electronic manufacturing in the country is expected to soar, reaching around $250 billion in the next five years.
The Future Looks Bright
India’s move to manufacture and launch the iPhone 16 globally is a significant milestone. This step not only boosts the ‘Make in India‘ initiative but also strengthens the nation’s position as a major player in the global tech industry.
In Summary
In summary, the production and global launch of the iPhone 16 from Indian plants mark a new chapter in India’s manufacturing journey. Thanks to government initiatives and an encouraging business environment, India is set to become a powerhouse in electronics manufacturing. The future looks bright with promising growth and numerous opportunities on the horizon.