Apple company took huge advantage of the government’s PLI scheme, made iPhones worth Rs 1 lakh crore in the last 1 year

There was a time when India was one of the largest countries importing mobile phones. Smartphones used to come to the country from China and these Chinese mobiles were sold in the Indian market. But now the times have changed and India has taken rapid steps towards self-reliance in which the government has made full contribution.

Today smartphones are being manufactured in India, not only this, they are also being exported to many countries, the credit for this goes to the PLI scheme of the government. The flags of success that this scheme has raised.

Tremendous success of India’s PLI scheme

The success of PLI Scheme can be estimated from the fact that phones worth Rs 1 lakh crore will be made in the year 2023. According to reports, iPhones worth Rs 65,000 crore have been exported from India.

This is the highest production and export of mobile phones done by this company in India in 12 months. Experts say that the value of these iPhones is 1 lakh crore freight on board (FOB), i.e. the value at which the devices come out of a factory. Depending on the taxes and dealer margins of different countries, the market value of the production can be between Rs 1.5 lakh crore to Rs 1.7 lakh crore.

Apple’s market value increased

Production Link Incentive (PLI) is applicable on the FOB price of a device, in fact it is because of PLI scheme that major smartphone companies have shifted their suppliers to India. Apple has three contract manufacturers in India, which include Taiwanese giant Foxconn, Wistron and Pegatron.

Apple company is now expanding its supply chain in the country. In terms of value, Apple has increased its share from 2 percent in 2018 to 6 percent in the financial year 2023. Whereas Apple’s Indian business has increased from Rs 13097 crore to Rs 49322 crore. Whereas Samsung’s has gone from Rs 37000 crore to Rs 70,000 crore.

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