Apple has not only opened two retail stores in India, but has also started manufacturing them. In the coming time, 18 percent of the world's Apple iPhone is expected to be made in India. Read this news...
It is a constant effort of the Central Government led by Prime Minister Narendra Modi to increase the production of electric products in the country. For this, the government has also launched the Production Linked Incentive (PLI) scheme. The major benefit of this scheme of the Modi government is now going to be given to the iPhone maker Apple Inc. This advantage can be so big that Apple can shift 18 percent of its total iPhone production to India.
In this regard, a report by Bank of America has said that the government's PLI scheme can help not only Apple but also India. India has set a target of $126 billion worth of smartphone production. By the financial year 2025-26, the country's export is also expected to increase five times and the export of mobile phones can go up to $ 55 billion.
There is a lot of demand for mobile phones in India.
Mobile phones account for 21.5 percent of the total demand for electronics in India. It is seeing a growth of 15 percent year on year. In the report of Bank of America, there has also been a wide discussion about the PLI scheme brought for mobile phones. It has been said in the report that since the financial year 2016-17, the production of mobile phones in India has increased by 3.9 times, while its exports have increased by 65 times. At the same time, there has been a decrease of one-third in the import of mobile phones.
Still there will be more production in China, Vietnam
However, even if 18 percent of iPhone production shifts to India, even then more production will continue to happen in China and Vietnam. In China it will be 38 percent and in Vietnam it will be 24 percent. The Modi government has introduced a PLI scheme of Rs 38,000 crore to increase mobile phone production. It can improve the export mix in the domestic production of the country. At the same time, it can make India a good alternative to the global supply chain in the case of mobile phones and electronics.
The most part in the cost of a mobile phone is its parts. According to a Bank of America report, mobile display, memory and other semi-conductors together account for 70 percent of the cost of a mobile phone. India still has a long way to go in this matter. Although the Modi government has approved a PLI scheme of Rs 25,000 crore to increase the production of semi-conductors within the country.
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