Apple Continuously Expanding Business Operations in India: Piyush Goyal
US-based iPhone maker Apple is continuously expanding its operations in India and the government is in regular touch with the company to support its business, commerce and industry minister Piyush Goyal has said.
He said that the electronics industry works like this as first they put a basic set up and then they keep sourcing different components to add into their ecosystem.
“Apple is continuously expanding their operations in India… We are in regular touch with the Apple, MeITY (Ministry of Electronics and Information Technology) is also in touch with them… We hand-hold them because in a way, the eyes of the whole world are fixed on Apple,” he said when asked about Apple’s plan to start full-fledged manufacturing unit in India.
The company gets iPhones manufactured by electronics giants — Foxconn, Wistron and Pegatron in India.
The minister has earlier stated that India’s exports of mobile and electronics goods have doubled in the last year.
“Apple itself has exported about USD 5 billion worth of goods last year from India and they are planning to have 25 per cent of their global production coming out of India in the next 4 or 5 years,” he said.
On Thursday, it was reported that mobile phone exports from India reached close to $11.12 billion (roughly Rs. 90,000 crore) with iPhone maker Apple accounting for around half of the total exports, according to industry body ICEA and estimates from industry sources.
India Cellular and Electronics Association (ICEA) said that mobile phones export from India have doubled to surpass Rs 90,000 crore, in the financial year (FY) 2022-23 from Rs 45,000 crore in FY22.
“No economy or sector in the economy can become a great and vibrant global economy without large exports. The mobile phone export juggernaut continues. Riding on the 100 per cent growth in mobile phone exports, which have crossed Rs 90,000 crore for FY 2022-23, electronics exports have also grown by 58 per cent to Rs 1,85,000 crore. It is extremely satisfying that we have crossed the targeted figure of Rs 75,000 crore for the year,” ICEA Chairman Pankaj Mohindroo said.
According to industry sources, Apple is estimated to have clocked 50 percent share with the export of ‘made in India’ iPhones worth $5.5 billion (roughly Rs. 45,000 crore).