In recent years, India has emerged as a key player in the global smartphone market, with the country being one of the largest smartphone markets in the world. The growth of the Indian smartphone market has been driven by a combination of factors, including a rapidly expanding middle class, increasing internet penetration, and the availability of affordable smartphones. In addition, the Indian government’s push to promote domestic manufacturing has led to the growth of the smartphone manufacturing industry in the country. In this blog post, we will be discussing the recent news about the doubling of Apple iPhone exports from India between April and August.
The Growth of Apple iPhone Exports from India
According to recent reports, Apple iPhone exports from India doubled between April and August, with the total value of exports reaching around $1.5 billion. This is a significant increase from the same period last year, where Apple iPhone exports from India were valued at around $760 million. This surge in exports is a positive development for India, as it demonstrates the country’s growing capability in the manufacturing and export of high-tech products.
The increase in Apple iPhone exports from India is largely due to the government’s Production Linked Incentive (PLI) scheme, which was launched last year. The PLI scheme provides incentives to companies that manufacture smartphones in India, and aims to make India a global hub for smartphone manufacturing. The scheme has attracted several major players in the smartphone industry, including Apple, which has started manufacturing its iPhone SE model in India.
Factors Contributing to the Surge in Exports
Apart from the PLI scheme, there are several other factors that have contributed to the surge in Apple iPhone exports from India. One of the key factors is the ongoing trade war between the US and China. As tensions between the two countries have escalated, several companies have started exploring alternative manufacturing locations outside of China. India has emerged as a viable alternative for many companies, due to its large and growing market, favorable business environment, and skilled workforce.
Another factor that has contributed to the growth of Apple iPhone exports from India is the COVID-19 pandemic. The pandemic has disrupted global supply chains and manufacturing operations, leading to delays and shortages in the production of many goods, including smartphones. This has led several companies to diversify their supply chains and explore alternative manufacturing locations, with India being one of the preferred destinations.
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Rajkotupdates.news: apple iphone exports from India doubled between April and August
The doubling of Apple iPhone exports from India between April and August is a positive development for the country’s manufacturing industry, and demonstrates its growing capability in the high-tech sector. The PLI scheme, along with other factors such as the US-China trade war and the COVID-19 pandemic, has contributed to the growth of Apple iPhone exports from India. As India continues to develop its manufacturing capabilities and attract more companies to invest in the country, we can expect to see further growth in the high-tech sector, and a positive impact on the country’s economy as a whole.