In a significant boost to the employment landscape, the US-based tech giant Apple plans to create 600,000 jobs in India by this fiscal year, driven by its booming sales and expanding manufacturing operations. As the company’s Indian workforce nears 200,000 direct jobs by March-end, a significant portion of these positions are expected to be filled by women, according to reports.
Apple’s sales in India have increased, reaching nearly $8 billion in the fiscal year ending March 2024, a 33% increase from the previous year. The iPhone has been the driving force behind this growth, strengthening India’s position as the fifth-largest market for the device globally.
The Production-Linked Incentive (PLI) scheme, introduced by the Indian government, has been instrumental in attracting Apple’s manufacturing operations to the country. As of April 2024, approximately 14% of Apple’s iPhones are manufactured in India, with ambitious plans to increase this percentage to 25%.
Apple collaborates with leading contract manufacturers like Foxconn, Wistron (now Tata Electronics), and Pegatron to ramp up production in India. In FY24, the total production value of iPhones in India reached about Rs 1.20 lakh crore ($14.5 billion), with Rs 85,000 crore ($10.3 billion) worth of iPhones exported.
Beyond manufacturing, Apple has also expanded its retail presence in India. The company opened its first two physical stores in Mumbai and Delhi in 2023 and is actively scouting locations for additional outlets. Apple is also committed to fostering its ecosystem in India, supporting over 1 million jobs in the Indian app development community.
While India’s contribution to Apple’s global revenue remains relatively small, the company’s significant expansion in the country suggests that it will play an increasingly important role in Apple’s overall strategy moving forward.
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