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Apple exports iPhones worth over Rs 16,500 crore in April-May from India

Apple has managed to export iPhones worth more than Rs 16,500 crore (nearly USD 2 billion) in the first two months of the ongoing financial year (FY25), shows industry data.

Edited By: Saumya Nigam @snigam04 New Delhi Published on: June 12, 2024 12:26 IST
apple inc, tech news, iphone,
Image Source : FILE Apple iPhones worth over Rs 16,500 crore exported in April-May from India

Apple has reportedly achieved a significant milestone of exporting the ‘made in India’ iPhones which was worth more than Rs 16,500 crore (approximately USD 2 billion) in the first 2 months of the ongoing financial year (FY25). Buoyed by the Indian government’s production-linked incentive (PLI) scheme, this is considered as a remarkable achievement that highlights the success of Apple’s manufacturing and export strategy in the country.

India dominating iPhone production

According to industry data, these exports account for more than 80 per cent of the total iPhone production and assembly in India. Apple’s key suppliers, including Foxconn, which alone contributes about 65 per cent of the total exports, have bolstered their supply chains significantly in recent months. This has enabled Apple to scale up its production capabilities within the country.

FY24 success and record production

Apple has concluded FY24 with a substantial iPhone production value of around USD 14 billion (over Rs 1 lakh crore) in India. The market value of these iPhones is estimated to be around USD 22 billion. This showcases the company’s robust manufacturing growth in India, which has been aligning with the government’s PLI scheme’s objectives.

Strengthening domestic manufacturing

Highlighting India’s growing manufacturing prowess, Apple has intensified its iPhone production efforts in the country. Prime Minister Narendra Modi recently emphasized that one out of every seven iPhones globally is now manufactured in India. This positions India as a critical hub in Apple’s global supply chain.

India’s rising mobile manufacturing power

India has emerged as the world’s second-largest mobile phone manufacturer. In a recent interview with NDTV, Prime Minister Modi noted the unprecedented scale of Apple’s manufacturing in India. He stated, “One out of seven iPhones in the world is now being manufactured in India. We are also exporting a record number of the Apple product which is a stellar example of the PLI scheme’s success.”

Future projections for iPhone production in India

Looking ahead, it is projected that by 2028, around 25% of all iPhones will be manufactured in India. Apple has already seen a record first-quarter shipment in the country, growing by 19 per cent year-on-year. In 2023, Apple shipped around 10 million iPhones in the country, which captured 7 per cent of the market share.

The surge in electronic goods exports

India’s export of electronic goods, which are led by mobile phones has witnessed a meteoric rise over the past decade. Apple’s deepening its ecosystem in India which involves building a network of local vendors, reducing dependence on China, and fostering job creation. To date, more than 1.5 lakh people are employed within Apple’s ecosystem in the country.

Continued growth and expansion

Apple has continued to experience strong double-digit growth, particularly notable in the March quarter of this year. The Cupertino-based tech giant is not only bolstering its manufacturing footprint in India but it is also playing a significant role in the country’s economic development by creating jobs and supporting local industries.

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Inputs from IANS

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