Apple’s “Make in India” initiative has shown significant progress in recent years, with the brand’s contribution to the country’s smartphone manufacturing reaching an impressive 25% in terms of value. This is according to a recent report from Counterpoint Research, which revealed that Apple’s “Make in India” shipments increased by 65% in volume and 162% in value, boosting the brand’s value share from 12% in 2021 to 25% in 2022.

The success of Apple’s “Make in India” initiative can be attributed to several factors. One of the main reasons is the Indian government’s push to increase local manufacturing under its “Make in India” program. As a result, Apple has invested heavily in local manufacturing facilities, enabling the brand to produce its popular iPhone models in India.

Moreover, the Indian government has also offered various incentives to encourage multinational companies to manufacture in India. These include tax benefits, reduced customs duty, and subsidies on capital expenditure, among others. Such incentives have not only attracted Apple but also other multinational companies to establish manufacturing units in India, contributing to the growth of the Indian manufacturing sector.

The Counterpoint Research report also highlighted the overall growth in the “Make in India” initiative, with the volume and value contributions of exports reaching all-time highs in 2022. This is a significant achievement, considering that the Indian smartphone market has been affected by macroeconomic headwinds that negatively impacted consumer demand, particularly in the second half of the year. Despite this, the “Make in India” initiative has shown resilience and growth, as reflected in the report’s findings.