Officials say Apple's Indian iPhone output is expected to exceed 1 trillion rupees in fiscal year 2023

CTOnews.com, Nov. 21 (Xinhua)-- according to Economic Times, Indian officials say Apple plans to produce more than 1 trillion rupees (CTOnews.com Note: about 86 billion yuan) worth of iPhone in India in fiscal year 2023 ending the first quarter of 2024.

The report says Apple has now accelerated the progress of its Indian factories and continuously improved its products, achieving production worth more than 600 billion rupees (currently about 51.6 billion yuan) in the first seven months of the fiscal year.

Indian officials say that even if Apple fails to reach the milestone of 1 trillion rupees this fiscal year, there is plenty of confidence that Apple will achieve that goal in the next fiscal year (by the first quarter of 2025).

Indian officials say Apple exports about 70 per cent of its iPhone produced in India to cater to the upcoming Christmas shopping season by ramping up capacity at its factories in India.

So far, Apple has exported 400 billion rupees worth of iPhone between April and October of this fiscal year.

Industry executives told ET,iPhone that exports exceeded $5 billion in fiscal 23, exceeding the total in the previous fiscal year.

In fiscal year 23, iPhone became the first single brand to export more than $5 billion from India. This year, Apple's exports rose 185% in the first seven months compared with the same period last year. Between April and October last year, it exported iPhone worth 140 billion rupees.