Annual production of iPhones in India could be set to witness a significant surge, doubling to a whopping $30 billion if policies proposed by the Trump administration come into effect and result in a shift in global supply chains.
What Happened: India's iPhone production will increase if newly elected U.S. President Donald Trump carries out his threats of increased tariffs for Chinese products, reported the Economic Times.
Currently, India produces $15 billion-16 billion worth of iPhones annually. Trump campaigned to put 60% to 100% tariffs on Chinese imported goods.
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In his first presidential term, Trump had levied 25% tariffs on Chinese products. Experts expect Apple to shift more production to India from China if Trump carries out his tariffs on Chinese products. The new capacity will reportedly create 2 lakh jobs and increase Indian contribution to iPhone production to 26% in the next years from 12%-14% currently.
Recently, Apple reportedly launched its first research and development centre in India to expand its presence in one of the world's fastest-growing markets. The company is also looking to launch four new retail stores in India.
