Prime Minister Narendra Modi on Monday said India\u2019s prowess in electronics is powered by innovative youth, as the electronics exports, driven by Apple iPhones, reached the third spot in the top 10 exports in the April-June quarter (Q1 FY25).<\/p>\n\n\n\n
According to data by the Department of Commerce, electronics exports are now in the third position, with engineering products at the top, followed by petroleum.<\/p>\n\n\n\n
\u201cThis is indeed a matter of immense joy. India\u2019s prowess in electronics is powered by our innovative \u2018Yuva Shakti\u2019. It is also a testament to our emphasis on reforms and boosting Make in India,\u201d the Prime Minister said in a post on X social media platform.<\/p>\n\n\n\n
\u201cIndia remains committed to continuing this momentum in the times to come,\u201d PM Modi added.<\/p>\n\n\n\n
According to Electronics and IT Minister Ashwini Vaishnaw, India\u2019s \u201celectronics export now is among the top 3\u201d.<\/p>\n\n\n\n
\u201cMaking in India, shipping worldwide,\u201d the minister posted on X.<\/p>\n\n\n\n
Apple is all set to cross $9.5 billion in revenue this year in the country, garnering more than 7 per cent market share. The Cupertino-based tech giant clocked nearly $8 billion in revenue in India in the last fiscal year.<\/p>\n\n\n\n
Driven by the friendly production-linked incentive (PLI) scheme, the tech giant achieved record export numbers around $3.8 billion in the April-June period (Q1 FY25) in the country.<\/p>\n\n\n\n
Experts said the long-term growth outlook remains positive with Apple being well-positioned to capitalise on India’s growth trajectory over the next decade.<\/p>\n\n\n\n
During the company\u2019s quarterly earnings call last week, Apple CEO Tim Cook said the company has once again set a quarterly revenue record (April-June period) in India, riding on robust local manufacturing amid the government’s push and growing export figures.<\/p>\n\n\n\n
According to Luca Maestri, CFO of Apple, the company saw strong performance in emerging markets, with June quarter records for Mac in Latin America, India and South Asia.<\/p>\n\n\n\n
The company has sufficient headroom for growth in the country over the upcoming quarters, with the new iPhone series and the festive season sales. AGENCIES<\/p>\n","protected":false},"excerpt":{"rendered":"
Prime Minister Narendra Modi on Monday said India\u2019s prowess in electronics is powered by innovative youth, as the electronics exports, driven by Apple iPhones, reached the third spot in the top 10 exports in the April-June quarter (Q1 FY25). According to data by the Department of Commerce, electronics exports are now in the third position, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"footnotes":"","_jetpack_memberships_contains_paid_content":false,"jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[87],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\n