The company has reportedly managed to move iPhone production worth $7 billion to India with plans to reach $40 billion in production in India over the next five years.
In the last fiscal year, Apple’s total iPhone production was valued at $191 billion. India is expected to manufacture one-quarter of all iPhones by 2025 and half of all iPhones by 2027. To achieve this goal, Apple has begun the construction of two new iPhone facilities in India.
iPhone maker Apple has plans to scale up production in India by over five-fold to around $40 billion, or about Rs 3.32 lakh crore, in the next four to five years, according to government sources. According to the official, who did not wish to be named, the company has crossed the $7 billion production mark in the last financial year.–BQ Prime