Apple is planning to ramp up production in India by more than five times to reach nearly $40bn (RS3.5trn) in the following four to five years, reported PTI via Business Standard.

Citing government officials, the news agency said that the US-based company exceeded $7bn in production during the last financial year.

“Apple has plans to increase production in India to over $40bn in the next four to five years. It has crossed $7bn in the last fiscal,” the official was quoted as saying.

Request for comments from Apple did not elicit a response, reported the news agency

Currently, Apple manufactures iPhones in India and intends to start producing Airpods in 2024.

According to the official, Apple does not currently have any intentions to manufacture its laptops or iPads in India.

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“They do not have any plans to participate in IT hardware PLI. They may come at a later stage but as of now their focus is to scale up existing production levels,” the official added.

In the fiscal year that ended 25 September 2022, the business sold iPhones worth $191bn, as well as items worth $38.36bn in the wearable, home, and accessories segments.

During the first nine months of the current fiscal, Apple recorded a roughly 4% reduction in iPhone sales totalling $156.77bn, and a marginal decline in the wearable, home, and accessories market, totalling $30.52bn.

Industry sources claimed that sales of Apple’s iPhone 15 registered a 100% growth in comparison with that of the iPhone 14.

The new iPhone 15, which was launched earlier this month, comes with machine-learning capabilities.

An Apple executive claimed that the artificial intelligence in the iPhone 15’s camera can now recognise people in the frame and automatically change the photo into a portrait, eliminating the need for consumers to manually set it.