(Bloomberg) -- Apple Inc. plans to increase production in India more than fivefold within the next five years, PTI reported, citing government officials it didn’t identify.

The company surpassed $7 billion production in the country in the last financial year and is aiming for $40 billion, the same official told PTI. Apple didn’t respond to an emailed query outside of office hours.

Apple manufactures iPhones in India and has plans to start making AirPods as well next year, the news wire said. In a first, the Cupertino-based phonemaker launched its India-made iPhone 15 this month on its global release day.

Meanwhile, the country is looking to expand its electronics industry to $300 billion by 2026 on the back of increased smartphone production and a global push to de-risk China based supply chains, India’s junior minister for technology, Rajeev Chandrasekhar, told Bloomberg TV earlier this month.

©2023 Bloomberg L.P.