Cook receives a big gift! India saves Apple up to $50 million a year: increasing the proportion of iPhones produced in India

July 24 news, according to foreign media reports, Apple recently received another big gift from India, where they will save up to 50 million US dollars per year. India announced that it will reduce the basic customs duty (BCD) for mobile phones, mobile phone printed circuit boards (PCBs) and chargers from 20% to 15%, effective from July 24. Analysts and industry executives said this would help Apple save $35 million to $50 million in tariffs annually. According to the 2023~2024 Annual Economic Survey, Apple assembled 14% of the world's iPhones in India in fiscal year 2024, which directly increased India's ranking in global electronic product exports by 4 places. Apple has been aggressively increasing local production of its flagship iPhone devices in India through Foxconn and Tata Electronics. Tata, which acquired Wistron's business, is acquiring Pegatron's operations in India, including an iPhone manufacturing plant near Chennai and another plant under construction. Apple plans to increase the production capacity of its production base in India to 25% of all iPhones in the next 3 to 4 years, compared with the current 14%. This effort includes establishing a local supplier network.

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