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Introduction
In a remarkable turn of events, India has positioned itself as a key player in the global smartphone market. The export of iPhones from India is set to exceed ₹1 lakh crore in 2024, signifying a monumental achievement for the country’s tech industry. This surge is not only indicative of Apple’s growing confidence in Indian manufacturing but also showcases the potential of India’s electronics ecosystem.
Factors Contributing to Growth
The increase in iPhone exports can be attributed to several factors. Firstly, Apple’s strategy to diversify its manufacturing bases has led to a significant boost in local production capabilities. This move is driven by a desire to mitigate supply chain risks and is further supported by the Indian government’s initiatives to promote semiconductor manufacturing and assembly operations within the country.
Impact on the Economy
The achievement of crossing ₹1 lakh crore in iPhone exports will have a profound impact on the Indian economy. It is expected to create thousands of jobs, bolster skill development, and attract foreign investment. As these exports grow, India can also solidify its standing as a global manufacturing hub, eventually setting the stage for a more resilient tech ecosystem that benefits both domestic and international markets.
