According to Bloomberg, Apple generated more than $7 billion in output from iPhone phones assembled in India in its latest fiscal year ending in March this year, a twofold increase in production.
Apple supply chain partners Foxconn and PEGATRON have both expanded their operations in the Indian market, and India now produces 7 percent of the world’s iPhones, people familiar with the matter said. That’s a significant leap for India, where the figure was just 1 percent in fiscal 2021.
Apple exported more than $5 billion of iPhones in the fiscal year ending March 2023, four times more than in the previous fiscal year.
Apple’s OEM PEGATRON is in talks to open a second factory in India, which will be responsible for assembling the latest iPhone models. For now, Apple’s manufacturing partners are continuing to diversify production.