Apple Is Now India's Fastest-Growing Manufacturer In 50 Years: Report
Portfolio Pulse from Ananthu C U
Apple Inc. (NASDAQ:AAPL) has become India's fastest-growing manufacturer in 50 years, surpassing $23 billion in revenue in FY24. This growth is driven by Apple's focus on the Indian market and local manufacturing, with India contributing 14% to Apple's overall production. iPhones alone contributed around $15 billion to exports from India in the last fiscal year.
August 14, 2024 | 8:18 am
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POSITIVE IMPACT
Apple Inc. has achieved significant growth in India, surpassing $23 billion in revenue in FY24. This marks the highest manufacturing growth by a company in India in the last 50 years. The company's focus on the Indian market and local manufacturing has led to India contributing 14% to Apple's overall production.
Apple's significant revenue growth in India and the increased contribution of India to its overall production are positive indicators for the company's future performance. This expansion into a crucial market like India is likely to boost investor confidence and positively impact Apple's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100