Apple assembled 14% of global iPhones in India in FY24. Finance Minister Nirmala Sitharaman's Economic Survey 2023-24 highlights Foxconn’s production boosting US exports and electronics ranking. Domestic value addition increased from Phase 1 (8.7%) to Phase 2 (22%), with Rs 1.9 lakh crore in exports, increased employment and wages by 317%, driven by the PLI scheme.
