Apple continually expanding operations in India, government in regular contact with company: Piyush Goyal
US iPhone maker Apple is continuously expanding its operations in India and the government is in regular contact with the company to support its business, trade and industry, Minister Piyush Goyal said.
He said the electronics industry works like this because they put a basic setup first and then they keep sourcing different components to add to their ecosystem.
“Apple is continuously expanding its operations in India…We are in regular contact with Apple, MeITY (Ministry of Electronics and Information Technology) is also in contact with them…We are holding their hand because that somehow the eyes of the whole world are on Apple,” he said when asked about Apple’s plans to set up a full-fledged manufacturing unit in India.
The company has iPhones made by electronics giants – Foxconn, Wistron and Pegatron in India.
The minister said earlier that India’s exports of mobile and electronic products had doubled over the past year.
“Apple itself exported about $5 billion worth of goods last year from India and they plan to bring 25% of their global production out of India in the next 4-5 years,” he said. -he declares.
On Thursday, India’s mobile phone exports were reported to have reached nearly $11.12 billion (about Rs 90,000 crore), with iPhone maker Apple accounting for about half of total exports, according to industry body ICEA and estimates from industry sources.
India Cellular and Electronics Association (ICEA) said India’s mobile phone exports doubled to over Rs 90,000 crore, in the financial year (FY) 2022-23 from Rs 45,000 crore in FY22.
“No economy or sector of the economy can become a large and vibrant global economy without large exports. The juggernaut of mobile phone exports continues. Riding the 100% growth in mobile phone exports, which exceeded Rs 90,000 For the financial year 2022-23, electronics exports also grew by 58% to Rs 1.85,000 crore. year,” said ICEA President Pankaj Mohindroo.
According to industry sources, Apple is estimated to have recorded a 50% share with the export of ‘Made in India’ iPhones worth $5.5 billion (about Rs. 45,000 crore). ).
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