According to industry figures, India's iPhone exports reached a new high of 10,000 crore in May, increasing the country's outbound shipments of cellphones to 12,000 crore for the month.
The government officials with knowledge of the situation, Indian officials want to persuade other US companies, like Tesla, to move their supply chains here by using Apple's expanding India engagement as an example.
According to
Import Export Data from industry group India Cellular and Electronics Association obtained by ET shows that in the first two months of current fiscal year (April and May), smartphone exports exceeded 20,000 crore ($2.4 billion), more than double the 9,066 crore reported in the same period last year. Apple belongs to the organization.
iPhone constitute 80% of the smartphone exports from India, while the rest comprises the phones of Korea's Samsung and some local brands.
The April-May iPhone exports underline the efforts of the Cupertino, US-based Company to make India its second home for iPhone manufacturing, said experts. In FY23, iPhone exports from India totalled $5 billion, making it the first single brand to achieve the feat.
The Indian team is anticipated to promote the success story of Apple in this country during Prime Minister Narendra Modi's June 21–24 state visit to the US in an effort to persuade American businesses like Tesla to move their supply chains to India. One of the officials stated, "The supply chains are the main focus."
According to officials, semiconductors, electric vehicles, and other important developing technologies would be the emphasis areas.
However, the Indian delegation has numerous industry interactions scheduled, particularly with businesses involved in crucial developing technologies and supply networks.
