PLI Impact: Apple's Employment Surges With 150,000 New Hires Since August 2021, Says Report

Apple has expanded its workforce with over 150,000 new hires following the initiation of the PLI scheme for smartphones in August 2021

Apple has reportedly hired more than 150,000 employees since the inception of the production-linked incentive (PLI) scheme for smartphones, which was started in August 2021.

According to government officials and experts cited in a report by the Economic Times, a large part of these employees fall in the age group of 19 to 24. These workers are also first-time entrants in the job market.

Besides direct employment figures, around 3,00,000 workers have got indirect employment opportunities by the company. Officials mentioned in the report state that nearly 3,000 people are directly employed by Apple in India, alongside the jobs created by contract manufacturers and suppliers. Moreover, the development of iOS apps also contributed to over one million jobs.

Amid geopolitical tensions and a decline witnessed in top markets like the US and China, Apple has intensified its focus on India, which is also the world's second-largest smartphone market.

iPhone manufacturing was initially started in India in 2017 and eventually expanded its local production with the PLI scheme. Apple also worked with its suppliers like Foxconn, Wistron, and Pegatron to assemble the latest iPhone models.

Meanwhile, there has been a growing emphasis on producing more components locally. Analysts anticipate that during the upcoming June-September period, the iPhone factories will directly recruit over 10,000 individuals as production ramps up to accommodate the global demand for new models.

In February, the FY24 production of iPhones surpassed Rs 1 lakh crore. Considering taxes and dealer margins, the market value of these phones amounts to around Rs 1.6 lakh crore.

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