The Apple ecosystem has employed more than 150,000 people directly under the production-linked incentive (PLI) scheme approval in 2021, IT minister Rajeev Chandrasekhar said, adding that this makes it the country’s largest blue-collar job creator.
Approximately 3,00,000 people have been indirectly employed, resulting in over 400,000 new jobs, he added.The minister attributed the developments to Prime Minister Narendra Modi’s PLI policies, highlighting the transformative impact of the rules.
“iPhone factories are set to hire more than 10,000 people directly in the peak June-September period,” Chandrasekhar posted on X.
The FY24 production of iPhones exceeded Rs 1 lakh crore in February, with 70% exports and a total market value of Rs 1.6 lakh crore.
iOS app development now sustains more than 1 million jobs. Additionally, Apple has launched an education initiative focused on women’s health as part of its $50-million Supplier Employee Development Fund, according to the minister.
Apple logs fastest net profit growth in India
Approximately 3,00,000 people have been indirectly employed, resulting in over 400,000 new jobs, he added.The minister attributed the developments to Prime Minister Narendra Modi’s PLI policies, highlighting the transformative impact of the rules.
“iPhone factories are set to hire more than 10,000 people directly in the peak June-September period,” Chandrasekhar posted on X.
The FY24 production of iPhones exceeded Rs 1 lakh crore in February, with 70% exports and a total market value of Rs 1.6 lakh crore.
iOS app development now sustains more than 1 million jobs. Additionally, Apple has launched an education initiative focused on women’s health as part of its $50-million Supplier Employee Development Fund, according to the minister.
Apple logs fastest net profit growth in India
Apple’s revenue in India reached nearly Rs 50,000 crore in FY23, with sales rising by 48% to Rs 49,321 crore and net profit increasing by 76% to Rs 2,229 crore. This represents the fastest net profit growth for Apple in India over the past five years.
India is close to achieving the target of Rs 20 lakh crore worth of mobile phone production in the last decade, while also crossing Rs 1.20 lakh crore worth of phone exports in the current fiscal year (FY24). This increase in exports — 7,500% over a decade — was reported by the top electronics industry body, India Cellular and Electronics Association (ICEA), last month.
Driven by this export surge, mobile phones have now become India’s fifth largest export as an individual commodity.