In the last financial year, the tech giant Apple has assembled $14 billion of iPhones in India. The company has doubled its production which indicates its accelerating push to diversify manufacturing beyond China.
Apple manufactures 14% or about one in seven of its devices in India.
The increase in production highlights Apple’s efforts to reduce its longstanding dependence on China due to mounting geopolitical tensions. The country remains its largest iPhone-making hub and biggest overseas market. But that’s also where Apple’s revenues are plunging, hit by ascendant rivals such as Huawei.
The increase in manufacturing in India is a victory for the Modi Government who has provided financial incentives to foreign companies, including Apple, to attract high-end manufacturing. In the government’s view, this has created 150,000 direct jobs at Apple’s suppliers. Foxconn Technology Group assembled 67% and Pegatron Corp. 17% of the made in India iPhones in financial years that ended in March 2024.
The rest were made in Wistron Corp.'s plant in Karnataka, which was taken over by Tata Group last year. Tata plans to establish one of the largest iPhone assembly plants in the country. The $14 billion figure refers to the estimated value of the devices as they leave the factory, not their retail price. Apple representatives declined to comment.
