Cheap iPhones Incoming? Apple To Manufacture iPhones Worth Rs 47,000 Crore In India In FY23

Apple iPhone models worth Rs 47,000 crore are likely to be assembled in the country in financial year 2023.

Wistron, Foxconn and Pegatron are required to manufacture iPhones worth Rs 8,000 crore each. Image: Getty

New Delhi: In a big boost to the production-linked incentive (PLI) scheme, Apple's contract manufacturers Wistron, Pegatron and Foxconn are likely to make five times the worth of Rs 10,000 crore worth of iPhone models in India in FY22, the media has reported. Apple iPhone models worth Rs 47,000 crore are likely to be assembled in the country in financial year 2023, according to a report by Economic Times.

As part of the PLI scheme, Apple's contract manufacturers, namely, Wistron, Foxconn and Pegatron are required to manufacture iPhones worth Rs 8,000 crore each in FY 2023. This is despite the fact that less than 1.5 per cent of Apple's global sales happens in India and more than 60 per cent of the iPhone models manufactured will be exported, the primary aim of the PLI scheme, the report added.

Meanwhile, in line with India's vision of becoming a global handset manufacturing hub, Apple has recently started producing its flagship iPhone 13 in the country. Last year's iPhone 13 is being manufactured at the iPhone maker's contract manufacturing partner Foxconn's plant near Chennai.

"We are excited to begin making iPhone 13 -- with its beautiful design, advanced camera systems for stunning photos and videos, and the incredible performance of the A15 Bionic chip -- right here in India for our local customers," Apple had told ABP Live earlier this month.

With this, the tech giant now makes its top models in the country along with its contract manufacturing partners Wistron and Foxconn. Apple began manufacturing iPhones in India in 2017 with iPhone SE. Today, Apple manufactures some of its most advanced iPhones in the country including the iPhone 11, iPhone 12 and now iPhone 13.

Apple's third contract manufacturing partner, Taiwan-based Pegatron Corporation is also likely to begin production in India, starting with the iPhone 12.