Fastest manufacturing growth in 50 years? Apple’s India business surpasses Rs 2 lakh crore; tech giant India’s largest global value chain

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Fastest manufacturing growth in 50 years? Apple’s India business surpasses Rs 2 lakh crore; tech giant India’s largest global value chain - Times of India

Quick Summary:

In FY24, Apple's India business grew beyond Rs 2 lakh crore due to increased iPhone production and strong sales of other products.

The company's shift of part of its supply chain from China and the introduction of India's production-linked incentive scheme were significant factors in this expansion.

India revenue figures of Apple do not include export numbers, but the increase in manufacturing by the Apple ecosystem has generated more than 150,000 direct jobs since 2021.