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Foxconn's Indian Investments Hit $10 Billion; Apple's Indian Operations Reach $23.5 Billion
Running parallel to an estimate for the same period, Apple's operations in India are pegged at USD 23.5 billion during FY24 itself, thereby cementing its status as one of the prime alternatives to China and Vietnam as far as manufacturing is concerned.
Apple Achieves Record Sales in India for FY24 Driven by Enhanced Manufacturing and Premiumization Trends
Apart from these strong domestic sales, Apple has set new records in exports, something that indicates industry projections of possible increments by more than 20% in iPhone shipments this year alone with solid support to domestic manufacturing and an efficient distribution network.
Surging Past Apple: Nvidia's $3 Trillion Market Cap Fueled by AI Boom
This is a stupendous feat achieved by Nvidia, crossing over a market cap of $3 trillion, largely sustained by exponential growth in the artificial intelligence domain.
Apple's iPhone Sales Surpass $1.95 Trillion: Report
During the first quarter (Q1) of 2024, Apple shipped 50.1 million of its ever-popular smartphones, five million less than during the same period last year. And so, iPhone sales revenue fell by almost 10 percent, amounting to $45.9 billion, according to information published on the website Stocklytics.com.
Apple's Potential to Create 500,000 Jobs in India Within 3 Years
Currently, Apple's suppliers and vendors provide employment opportunities to around 150,000 individuals in India, with Tata Electronics emerging as a key player in job creation through its two manufacturing facilities dedicated to Apple.
FY24 Direct Tax Collections Surpass Estimates, Soar by 18% to Rs 19.58 Lakh Crore
The combined net collections from income and corporate taxes, constituting the bulk of direct taxes, surpassed both the Budget and revised estimates for the 2023-24 financial year by substantial margins. Exceeding the Budget estimates by Rs 1.35 lakh crore (7.40 percent) and the revised estimates by Rs 13,000 crore, this achievement highlights a robust performance in tax revenue.
Income Tax Department Launches E-Portal for Seamless ITR Filing
The commonly used ITR forms including ITR-1, ITR-2, and ITR-4 are accessible on the e-filing portal from April 1st, 2024, allowing taxpayers to complete their filings.
According to the report, iPhone shipments grew about 39 per cent to 9.2 million units last year.
The report highlighted a notable increase in iPhone shipments, which grew by approximately 39 percent to 9.2 million units in the same period.
Apple Unveils Updates to iOS, Safari, and App Store in Anticipation of EU DMA Act
In a bid to enhance user experience while addressing privacy and security concerns arising from the DMA, Apple is introducing new controls, disclosures, and expanded protections.
Remarkable Surge: India's Direct Tax Collections Soar by 160% in a 9-Year Span
Additionally, the direct tax to GDP ratio has increased from 5.62% in 2013-14 to 6.11% in 2022-23. Meanwhile, the cost of tax collection has decreased from 0.57% of the total collection in 2013-14 to 0.51% of the total collection in 2022-23.
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