Over the next 4-5 years, Apple intends to increase production in India by a factor of five, reaching $40 billion

Within 4-5 years, Apple plans to boost production in India from $7 billion to $40 billion, which will include the production of AirPods. There are no immediate plans to use iPads or laptops

The well-known iPhone manufacturer Apple is getting ready to dramatically increase its production capacity in India. According to government sources, the corporation wants to grow output in the nation by more than five times, hitting $40 billion (or 3.32 lakh crore) within the next four to five years.

Following Apple’s successful breaching of the $7 billion production mark in the prior fiscal year, this ambitious move was made. In addition to producing iPhones, Apple is about to start making AirPods in India. The company does not appear to have any immediate ambitions to manufacture iPads, laptops, or take part in IT hardware Production Linked Incentive (PLI) programmes, though.

Targets for Production Growth: Within the next 4-5 years, Apple wants to increase production in India from its current $7 billion level to an astounding $40 billion level.

The business wants to become a significant force in India’s manufacturing industry.

Product Expansion: Apple, which manufactures iPhones in India, intends to diversify its output by bringing AirPods into the mix.

The production of AirPods is anticipated to start soon, even though iPhones are already made in India.

No Prompt Plans: Despite increasing the production of smartphones and accessories, Apple has no immediate plans to start producing laptops or iPads in India.

At the moment, the company does not take part in PLI programmes for IT hardware, although it may in the future.

A global overview of sales

With sales of the iPhone alone accounting for $191 billion of Apple’s remarkable fiscal year’s total revenue and the wearables, homes, and accessories sector contributing $38.36 billion.

Despite reporting a minor decline in iPhone sales and the wearable, home, and accessories segment in the first nine months of the current fiscal year, the business is still a major player in the technology industry worldwide.

Read also:-India’s Capital of Finance

Apple has successfully established itself as India’s top exporter of mobile phones, strengthening its position in the nation’s manufacturing and export industries.

Strong Demand for the iPhone 15 Series: Sales of the iPhone 15 series, which Apple launched, increased significantly and surpassed those of the iPhone 14 series.

India is one of Apple’s top five markets, demonstrating the rising interest in its goods there.

‘Made-in-India’ iPhones Available on the Same Day as worldwide Launch: Apple’s latest move includes making ‘Made-in-India’ iPhones available for purchase on the same day as their worldwide launch.

This demonstrates the company’s dedication to India as a key market for its products.

According to market research firm Counterpoint Research, Apple would have a strong 59 percent market share in the ultra-premium smartphone class (phones priced over Rs 45,000) in the first quarter of 2023.

India has emerged as one of Apple’s top five markets, showing the company’s rising influence and market presence.