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Apple's 'Make in India' triumph, exceeds Rs 600 bn iPhone assembly target in FY24 Q1
Industry News- Dec 14,23
The data is sourced from reports submitted by the three key vendors—Foxconn, Pegatron, and the recently acquired Wistron by the Tatas—to both the central and state governments.
In a notable "Make in India" achievement, Apple Inc has successfully assembled iPhones with a Freight-On-Board (FOB) value exceeding Rs 600 billion during the initial seven months of the 2023-24 fiscal year. This accomplishment represents 81% of the cumulative target of Rs 740 billion set for the fiscal year, as mandated by the production-linked incentive (PLI) scheme for mobile devices. Impressively, 70% of this total stems from the exportation of iPhones manufactured in India. The data is sourced from reports submitted by the three key vendors—Foxconn, Pegatron, and the recently acquired Wistron by the Tatas—to both the central and state governments.
Source: Business Standard
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