Apple To Produce Rs 25,000 Crore Worth Of iPhones in India Under PLI Scheme Till FY23: Report

Apple iPhone production under the government’s Production Linked Incentive (PLI) scheme is set to reach Rs 25,000 crore in FY23, a report in Business Standard has said. Citing commitment of a minimum incremental production from the company’s vendors, the report said that the vendors have committed to a minimum incremental production of Rs 25,000 crore of mobile devices in FY23 beginning April 1. The three-fold jump in the commitment of minimum incremental production over FY2022 comes due to Apple’s third contract manufacturer Pegatron, which kicks off production for the first time this financial year.

Pegatron will be the third contract manufacturer for Apple after Foxconn and Wistron. The new manufacturer has pledged to manufacture a minimum of Rs 7,258 crore worth of goods. Pegatron will initially roll out iPhone 12 devices, followed by the iPhone 13 series from a new production facility in Tamil Nadu. It is expected to employ close to 6,000 people over FY22-23. With the new manufacturer, and with iPhone 13 production also soon beginning in the country, Apple’s iPhone production under the PLI scheme will reach Rs 25,000 crores in FY23, beginning April 1.