As per Bloomberg News, Apple’s iPhone exports to India exceeded $1 billion within the five months that have passed since April 2022. The figures reflect its growing stake in India as a South Asian nation amid
As per Bloomberg News, Apple’s iPhone exports to India exceeded $1 billion within the five months that have passed since April 2022. The figures reflect its growing stake in India as a South Asian nation amid New Delhi’s drive for local production. The exports of India-made iPhones mostly towards Europe as well as to the Middle East, are set to hit $2.5 billion during the twelve months from March 2023. That’s almost twice as much as the period from March 2022. The phones exported by India between April and August 2022 include iPhone 11, 12, and 13 models. Exports of the brand new 14 line will start soon. It is an important success for India in its quest to be a major player in the field of electronics manufacturing as well as an alternative to China in the role of a factory to the rest of the world.
The News will be a major boost for PM Modi’s campaign for manufacturing locally and its benefits are obvious:
A few of the advantages are:
- It can help India to become an exporter for countries like Germany, Russia, the UK, France, and Italy as well as Italy, the Middle East, and Japan
- It is in support of the plan of Prime Minister Narendra Modi to create India as an alternative to China as a factory for the world and to attract foreign investments
- This reduces the dependence of Apple of China to supply iPhone production as well as diversifies its supply chain in the face of conflicting geopolitical conditions and Covid-related disturbances.
- It allows Apple to lower its prices as well as better service to customers in India which is the second-largest smartphone market on the planet.
How many iPhones are produced in India?
As per TechHQ TechHQ, it appears that the Indian Government has been urging smartphone manufacturers to make their phones the devices in India which has pushed the production of “Made in India” phones up. As per News Arena India, the exports of Made in India iPhones increased by four times during the last year, as more than the number of iPhones exported was around Rs40,000 over the course of one year. Recent data indicates that India currently accounts for five percent of the total iPhone production. In 2020, it was just 1 percent. A report from Tekdeeps indicates that the quantity of iPhones produced in India has increased by 65 percent in the last year when compared with the prior year as well as a growth of 162 percent in the value was calculated.
What impact does this have on the Chinese economy?
- It decreases China’s percentage of the global iPhone production and exports which could impact its revenue as well as employment.
- It also increases competition for China with India as a major manufacturing center for phones and other electronic devices.
- The incident puts China at greater geopolitical risk as well as trade disputes with the US as well as other nations that want to decrease their dependence on Chinese suppliers.
- China is attempting to challenge its dominance in high-tech, as well as its plans to become an innovator in both the field of innovation and high quality.