Indian authorities have reported a significant rise in smartphone exports in India, and this surge can be attributed to Apple’s iPhone. In the past, Apple mainly produced iPhones in India for the domestic market. However, the company’s decision to shift iPhone manufacturing from China to India has led to the production of iPhones specifically for export purposes.
All About Apple’s iPhone Exports!
Recent reports suggest that Apple has already relocated 7% of its total iPhone production to India, resulting in a noticeable impact on the country’s export statistics. According to Business Standard, a local publication, this manufacturing shift has propelled smartphones to become one of the top five most exported commodities in India’s fiscal year 2023. These rankings are determined based on the value of exports using a harmonized system of codes.
Surpassing its previous position of ninth place in the fiscal year 2022, smartphones have now secured the fifth spot on the export commodities list. They trail behind commodities such as diesel fuel, diamonds, aviation fuel, and gasoline. This impressive rise clearly reflects the substantial growth of the smartphone export market in India.
In fiscal year 2023, the total value of smartphone exports reached $10.9 billion, a significant increase compared to the $5.4 billion reported in the previous year. Notably, Apple’s iPhones accounted for roughly half of this $10.9 billion, underscoring the iPhone’s pivotal role in driving this growth. Although specific figures are not provided in the report, if Apple’s contribution amounts to the $5.5 billion increase, it exceeds analysts’ predictions by nearly double.
The surge in smartphone exports, driven by Apple’s decision to relocate iPhone production to India, has not only bolstered the country’s economy but also positioned India as a major player in the global smartphone market. As Apple continues to manufacture iPhones in India for export, it is anticipated that the country’s smartphone export figures will continue to expand, solidifying its position as a key player in the global smartphone industry.
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