Major boost to Make In India if Apple shifts 20 per cent production capacity to India.

Electronics and technology giant Apple Inc is planning to move nearly one-fifth of its production capacity from China to India. It will also ramp up its local manufacturing capabilities through its contract manufacturers Foxconn and Wistron to achieve $40 billion worth of production over the next five year.

The Cupertino-based company reportedly wants to reap the benefits of the Indian government's new production-linked incentives (PLI) scheme to encourage local production in the country.

If this goes as planned, it could make Apple India's largest exporter. The iPhone maker currently holds a small share of the Indian smartphone market, which means moving a massive chunk of its production to the country could only be for export purpose. Apple sells phones worth approximately $1.5 billion in India, of which less than $500 million are manufactured locally.