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Officials in India say that Apple has made a 20-fold increase in its local operations, including iPhone production, making it both the fastest-growing company, and also the first to become that because of moving work from China.
Mumbai, India
Mumbai, India
It’s already been reported that Apple’s sales in India have risen dramatically, up an estimated 33% from March 2023 to March 2024. Similarly, the company’s expanding manufacturing there has only been increasing, with 14% of all iPhones currently coming from India.
Now according to local publication The Economic Times, the country’s officials have been reporting on exactly how much Apple has been growing in the region. According to people listed only as top officials, the value of Apple’s India operations rose from Rs 1.15 lakh crore ($13.7 billion) in financial year 2023, to Rs 2 lakh crore ($23.5 billion) in the year since.
Originally appeared here:
India says Apple is the fastest-growing firm in the country over the last 50 years
