iPhone production under PLI scheme may hit Rs 25,000 crore in FY23

Apple vendors pledge 3x rise in manufacturing over FY22

In what could give a big boost to the production-linked incentive (PLI) scheme, Apple’s vendors have made a commitment of a minimum incremental production of Rs 25,000 crore of mobile devices in FY23 beginning from April 1.

The threefold jump in the commitment of minimum incremental production over FY22, in addition to a huge push in exports, will be possible thanks to the entry of Apple’s third contract manufacturer, Pegatron, which kicks off commercial production for the first time this financial year.

The new entrant has pledged to manufacture a minimum of Rs 7,258 crore in what will be its