This fiscal year, Apple’s contract manufacturers are projected to produce iPhones worth Rs 47,000 crore in India, the second year of the PLI plan, which began in April. This is over five times the 10,000 crore worth of iPhones produced in India by Foxconn and Wistron in FY22.

The expected output for FY23 is also more than twice the amount required for the iPhone producers to qualify for subsidies under the PLI scheme for smartphones for the second year. Each of the contract manufacturers – Foxconn, Wistron, and Pegatron – is required to produce phones worth Rs 8,000 crore under the scheme.