New Delhi, Nov 25 (IANS) Riding on the government’s production-linked incentive (PLI) scheme, Apple’s iPhone production in the country has reached $10 billion in the seven months of this fiscal (FY25), with $7 billion in exports alone which is a record, the Centre said on Monday.
The tech giant manufactured/assembled $14 billion of iPhones in India last fiscal (FY24), with exporting more than $10 billion worth of iPhones.
In a post on X, Union Electronics and IT Minister Ashwini Vaishnaw said that this is yet another milestone for the smartphone PLI scheme in 7 months.
“$10 billion iPhone production by Apple with $7 billion exports. Total smartphone exports from Bharat crossed $10.6 billion in 7 months,” the minister informed.
Minister Vaishnaw further stated that the Apple ecosystem created 1,75,000 new direct jobs in four years with “over 72 per cent women”.
The Cupertino (California)-based tech giant touched Rs 60,000 crore (around $7 billion) in iPhone exports from India in the first seven months of the current fiscal (FY25). In the April-October period, the company exported iPhones at almost Rs 8,450 crore (nearly $1 billion) each month, as per industry data.
In the July-September period, Apple clocked an all-time revenue record in India. “We continue to be excited by the enthusiasm we’re seeing in India, where we set an all-time revenue record. This has been an extraordinary year of innovation at Apple,” said company CEO Tim Cook.
Amid the growing demand for its iPhones in aspirational Bharat, Apple clocked a 36 per cent increase in its operating revenue in India, surpassing Rs 66,700 crore (about $8 billion) in FY24. The tech giant also posted Rs 2,746 crore ($330 million) in profit last fiscal.
The company’s profit increased by 23 per cent in FY24 against Rs 2,229.6 crore ($268 million) in FY23.
–IANS
na/vd
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
