Export of India-made Apple smartphones touches record $1bn during Dec

New Delhi: Apple has become the first company in India to achieve the milestone of exporting smartphones worth $1 billion (Rs 8,100 crore) in a month, according to a report in the Economic Times based on the latest figures available for December.

December also witnessed a record of Rs 10,000 crore worth of mobile mobile phone exports for the Indian industry, the report further stated.

The record exports also reflect the success of the government’s PLI (production-linked-incentive) policy launched April 2020 to boost manufacturing of electronic products in India and enable the country to emerge as an export hub.

Global tech giants Apple and Samsung have been the leading companies for exporting mobile phones from the country.

Apple is producing and exporting several iPhone models, including the iPhone 12, 13, 14, and 14+, from India through its three contract manufacturers: Foxconn Hon Hai, Pegatron, and Wistron.

According to government estimates, India is likely to export mobile phones worth USD 9 billion in the Financial Year 2022-23 , up from USD 5.8 billion in the 2021-22.