Achieves 81% of target for assembling iPhones in FY24



Surajeet Das Gupta

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In a “Make in India” success story, Apple Inc has assembled iPhones with a freight-on-board (FOB) value of more than Rs 60,000 crore in the first seven months of 2023-24 (FY24) through its three vendors in the country.

This accounts for 81 per cent of their combined target of Rs 74,000 crore, which they were required to achieve in FY24 under the production-linked incentive (PLI) scheme for mobile devices. Seventy per cent of this is from exports of iPhones from India.

The numbers are based on data provided by the three vendors — Foxconn, Pegatron, and Wistron (now acquired by Tatas) — to the Centre and the state governments.

First Published: Dec 10 2023 | 11:02 PM IST

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