India is preparing to defeat 'Dragon' with Apple, this is how it will become number-1 - Newztezz Online

Breaking

Thursday, October 5, 2023

India is preparing to defeat 'Dragon' with Apple, this is how it will become number-1

According to the report of India Cellular and Electronic Association, the figure of mobile exports in the first five months of the current financial year is 5.5 billion dollars. Whereas in the last financial year this figure was only 2.2 billion dollars.

Modi government's PLI scheme has been a hit in mobile manufacturing. Thanks to this scheme, India has become the second largest manufacturing hub in the world. Now India is behind only China. Apple can get full support to defeat it. After which India will become the number 1 country in the world in this matter.

On the other hand, after the arrival of the latest report, China's concerns have increased. There is a reason for that too. Foreign companies are constantly packing up from China and moving towards India or other countries. At present, the share of Make in India iPhone is increasing globally. So let us also tell you how much India has lagged behind China in terms of Apple manufacturing and export.

India comes closer to China

Ever since Apple's entry in India and Modi government has started PLI scheme in this sector, India is continuously progressing in mobile manufacturing. Unlike China, India has created its own identity globally. Because of which Apple is expanding itself in India not only on the manufacturing front but also on the retail front. This is the reason why India has currently become the second largest mobile hub in the world. According to Counterpoint data, 22 percent of the total mobile phones assembled in India in 2023 have been exported.

Such export figures

If we look at the figures from April to August, the country has exported mobiles worth Rs 45 thousand crores. This means that in these five months, mobile phones worth about Rs 21 lakh have been exported every minute. According to the report of India Cellular and Electronic Association, the figure of mobile exports in the first five months of the current financial year is 5.5 billion dollars. Whereas in the last financial year this figure was only 2.2 billion dollars. In the current financial year, India has exported mobile phones worth Rs 1.20 lakh crore. In which Apple has the highest share.

India will beat China

At present, the situation in China has become very bad. Export figures are continuously falling. China's exports have seen a decline of about 9 percent in the month of August. This means that mobile exports would also have declined. There is a possibility that such situation will continue. On the other hand, Apple is also preparing to increase its production in India by reducing its production in China. For this, Foxconn is going to increase production units in India.

No comments:

Post a Comment