India Exports Phones Worth $15 Billion, Apple's iPhone Tops The List

India Exports Phones Worth $15 Billion, Apple's iPhone Tops The List

India exported phones worth USD 15 billion in 2023-24. In this, iPhones clocked for a sale of worth USD 10 billion, or about 65 per cent of the entire export.

Juviraj AnchilUpdated: Monday, April 29, 2024, 03:07 PM IST
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Apple has had a few shaky weeks in the past, from the US government suing it for trying to monopolize the phone market with its iPhones to the European Union's fine on the company's Apple Music, chaos has been the norm. Meanwhile, amid uncertainties surrounding the sale and production of iPhone, especially after the Foxconn fiasco in China, Apple may have some good news and direction to look at.

According to reports, Apple's iPhone dominates the share of the total phones exported by India. India exported phones worth USD 15 billion in 2023-24. In this, iPhones clocked for a sale of worth USD 10 billion, or about 65 per cent of the entire export.

This not only serves India, which is trying to position itself not as an alternative to China, but as a hub in itself, surpassing the dragon.

For Apple, China is conundrum, that it would like to solve, on one hand it is dependent on the second largest economy in the world for its production and large market, on the other hand, it understands the need to diversify and not put all eggs in one basket. This therefore, could be seen a good sign for a change in its path ahead.

This also comes at a time, when China's shares in India's industrial imports jumped by a whopping 30 per cent.

In addition, India is also helped by the expansion of the California-based company, as Apple, according to the government employs as many as 1.5 lakh Indians. This number in a country with a large young population, will only grow further with time.

This news comes only few days after reports of Apple's new India stores, in Indian metro cities performing well came to pass. Thereby indicating an all round growth for the company.

With the upcoming semiconductor manufacturing projects that is the pipeline, albeit Tata and its Dholera (Gujarat) plant, India's ambitions of creating a space for itself will only be aided further.

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