Apple has emerged as a major job creator in India, with over 150,000 individuals directly employed through the production-linked incentive scheme in 2021. According to IT minister Rajeev Chandrasekhar, this makes Apple the largest blue-collar job provider in the country.
In addition to the direct employees, approximately 300,000 people have been indirectly employed, resulting in a total of over 400,000 new jobs in India. These significant numbers are attributed to Prime Minister Narendra Modi’s PLI policies, which have had a transformative impact on the job market.
The minister highlighted that iPhone factories are expected to hire more than 10,000 individuals directly during the peak period from June to September. The production of iPhones in the financial year 2024 exceeded Rs 1 lakh crore in February, with 70% of the devices being exported, amounting to a total market value of Rs 1.6 lakh crore.
Moreover, the iOS app development industry now sustains over 1 million jobs in India. Apple has also launched an education initiative focused on women’s health as part of its $50-million Supplier Employee Development Fund, showcasing its commitment to social impact.
In terms of financial performance, Apple’s revenue in India reached nearly Rs 50,000 crore in the financial year 2023, with a remarkable 48% increase in sales to Rs 49,321 crore. The net profit surged by 76% to Rs 2,229 crore, marking the fastest growth in net profit for Apple in India over the past five years.
India is on track to achieve a mobile phone production target of Rs 20 lakh crore in the last decade, with phone exports surpassing Rs 1.20 lakh crore in the current fiscal year 2024. This export growth of 7,500% over the past decade has propelled mobile phones to become India’s fifth largest export commodity.
Driven by this export surge, mobile phones have now become one of India’s top exports, showcasing the country’s prowess in the electronics industry.
The exciting developments from Apple underscore the tech giant’s significant contributions to India’s economy and job market, further cementing its position as a key player in the country’s digital transformation.
