India's BIG Apple Story

Published On: April 14, 2023 - Apple is taking a big bite on India's manufacturing capabilities! Two reasons why! First, the Indian government's push through electronics PLI that incentivises manufacturing of smart phones and other accessories in India. The second, supply chain challenges that China induced during its zero covid policy last until last year. A Bloomberg report states that 7 billion dollars worth of iPhones have been exported from India last fiscal. That is 7% of the total iPhones manufactured world wide - the lion's share still belonging to China. Estimates suggest that this number will be equated to that of China as more manufacturing shifts to India in the later half of this calendar year. Moreover, India is expected to take its apple manufacturing from 7% currently to over 25% by in the next 4-5 years. Add to that - the touch and feel at apple stores - one each in Delhi and Mumbai launching soon. Rakesh Khar joins Kartik Malhotra on Apple's big bite on India.