Exports of Made in India iPhones rise 4 times in FY23, tops $5 bn: Report

Underlining the speed at which Apple Inc is scaling up its manufacturing in the country, exports of Made in India iPhones jumped about four times to top $5 billion in 2022-23 (FY23) as compared to FY22, The Economic Times (ET) reported on Wednesday. iPhone also became the first brand to cross the $5 billion export mark in India.

Owing to this, India’s overall smartphone exports crossed $10 billion for the first time ever in FY23. Samsung accounts for $3.5-4 billion, the report added.

Apple is working to make India one of its key manufacturing hubs. Recently, the company announced that it would open its first retail store in the country in Mumbai on April 18.