Indian Economy News

Apple's India iPhone exports soar, set to cross the US$ 11.98 billion (Rs. 1 trillion) mark in FY25

Apple's FY25 began with a remarkable surge in iPhone exports from India, with official data indicating a near-doubling of export value to US$ 1.1 billion (Rs. 9,000 crore). Despite the typically subdued export activity in April globally, this surge highlights India's growing role as Apple's second-largest manufacturing hub for iPhones outside China.

Experts anticipate Apple to exceed the US$ 11.98 billion (Rs. 1 trillion) export milestone in FY25, solidifying India's importance in its manufacturing ecosystem. With approximately 14-15% of production already shifted to India, expected to rise to 26% by 2026, Apple's commitment to the Indian market is evident, with overall production reaching US$ 14 billion (Rs. 1.2 trillion) in FY24, including exports exceeding US$ 10 billion (Rs. 85,000 crore). Leveraging the smartphone production-linked incentive (PLI) scheme, Apple aims to surpass targets in FY25 while also focusing on expanding its local market presence in India, aiming for a double-digit smartphone market share.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.