Apple’s production in the country was worth more than $7 billion last fiscal year and is targeting $40 billion, the official said. Apple makes iPhones in India and plans to start making AirPods next year, while the country hopes to expand its electronics industry to $300 billion by 2026, the official said.

Apple has no current plans to make iPads or its laptops in India, and the focus is on increasing existing production levels, the official said.

Apple sold $191 billion worth of iPhones and $38.36 billion worth of wearables, home and accessory products globally in its fiscal year ending September 25, 2022, the company said. In the first nine months of the current fiscal year, the company’s iPhone sales declined by about 4% to $156.77 billion and sales of wearables, home and accessory products also declined slightly to $30.52 billion. The company has become the largest exporter of cell phones in India.

Apple’s new iPhone 15 series went on sale on Friday, offering a “Made in India” iPhone for the first time on the same day the company started selling the new models in the rest of the world. according to market research firm Counterpoint Research, Apple led the ultra-premium market in the first quarter of 2023. According to market research firm Counterpoint Research, Apple led the ultra-premium market in the first quarter of 2023 with 59 percent of the market, and India is now one of the company’s top five markets.

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According to registration documents provided by data analytics firm Propstack, Apple has leased the third floor of the building, as well as parts of the other two floors, covering 116,888 square feet (about 10,859 square meters) at a rent of INR 4.2 million.

Apple is recently stepping up its operations in India, where the company is reorganizing the management of its international operations to make India a host sales region for Apple.

Apple is promoting its India head Ashish Chowdhary, who will now report directly to Michael Fenger, Apple’s head of product sales.

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Reports suggest that Apple and Jio Drive Mall have signed an exclusivity agreement that does not allow any brand classified as a “competing brand” to display, sell or even advertise its products or services within the exclusive area of the mall.

Surprisingly, Samsung, which is considered one of Apple’s main competitors in the market, did not make the list. 22 competing brands are listed below (for more details on the report, visit here):

• Amazon
• Bose
• Dell
• Devialet
• Facebook
• Foxconn
• Garmin
• Google
• Hitachi
• Hewlett-Packard
• HTC
• IBM
• Intel
• Lenovo
• LG
• Microsoft
• Nest
• Panasonic
• Sony
• Toshiba
• Twitter

The report says the first Apple Store in India is an 11-year lease agreement, with Apple committing to pay at least 4.2 million rupees (currently about RMB 352,600) per month in rent and a 2 percent revenue share contribution for the first 36 months.

This will increase to 2.5 percent thereafter. Rent increases by 15% every three years. The store is said to be about 21,000 square feet, making it one of the largest Apple stores in the world.

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Source Rawpixel

According to statistics, of the 100,000 jobs absorbed, 62,300 blue-collar jobs, or 62 percent, were created by Apple’s partner suppliers such as Foxconn, PEGATRON and Wistron.

Foxconn had the largest number of employees, creating 35,500 jobs; PEGATRON created 14,000 jobs; and Wistron created 12,800 jobs. By the end of the fiscal year, each company is expected to add thousands more jobs.

In addition to these three major suppliers, other suppliers in India have added approximately 40,000 new jobs in the last 19 months. Of these, Salcomp has added 11,000 jobs.

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