Apple uses the PLI plan to create iPhones valued more than Rs. 1 lakh crore: Chandrasekhar Rajeev

Rajeev Chandrasekhar, the Union Minister of State for Electronics and IT, said on Friday that the production-linked incentive (PLI) programme is creating employment, exports, and output at record-breaking rates every day. Through an X post, the minister disseminated this information.

Additionally, he said that Apple manufactured iPhones valued at more than Rs 1 lakh crore in 11 months of FY 24 under the PLI programme. Furthermore, Chandrasekhar highlighted that a “massive number” of new jobs for iPhone manufacturers have been generated for young people by businesses like Foxconn, Pegatron, and Wistron.

The minister also said that India would export half of the output. Industry research indicates that Apple supplied iPhones to other nations valued at over Rs 65,000 crore.

“The brilliant PLI Scheme of PM Narendra Modi ji is creating employment, exports, and output at record-breaking rates every day. In 11 months of FY24, Apple sold more iPhones than it did for Rs. 1 lakh crore via the PLI Scheme. many new jobs for young people at Foxconn, Pegatron, and Wistron-run iPhone plants. Out of the total output, India will export two-thirds. The minister posted on X, “Future Electronics factories & startups in #Thiruvanthapuram.”

The manufacturing of mobile phones increased almost 20 times, from an estimated Rs 18,900 crore in 2014–15 to an estimated Rs 4.10 lakh crore in FY24, according to the industry association India Cellular & Electronics Association (ICEA).

Over the course of the last ten years, India has generated approximately 245 crore mobile phone sets. India’s exports of mobile phones were at Rs 1,556 crore in 2014–15.

Experts claim that the PLI programme for IT hardware and large-scale electronics manufacturing (LSEM) is moving India closer to being a competitive location for electronics production.