 "Apple, Apple phones, iPhones")
Apple Inc is expected to produce iPhones worth $12 billion (freight on board value) in India during 2023-24, according to discussions between the company’s vendors and the government. This would account for around 12 per cent of Apple’s global iPhone production—higher than the earlier plan of shifting around 9 per cent of the total to India by FY24, which is the third
year of the PLI (production-linked incentive) scheme.
The current numbers capture the trend. Apple, through its three vendors —Foxconn Hon Hai, Pegatron and Wistron (now Tatas)—has produced iPhones with an FOB value of $9.4 billion in the country during
