Apple iPhone exports from India have reached a great milestone, crossing Rs 1 trillion in value within the first 10 months of the current financial year (FY25), said a report of ‘Business Standard’. This is the first time Apple has achieved this milestone in a single financial year.
Apple’s iPhone exports from India saw a significant 31% growth between April 2024 and January 2025, reaching Rs 76,000 crore. Moreover, this surge was fueled by a record Rs 19,000 crore in exports in January alone, said the report.
The growth is attributed to Apple’s partnership with Foxconn, Tata Electronics, and Pegatron, which assemble iPhones in India under the Production-Linked Incentive (PLI) scheme. January’s exports surpassed the previous record of Rs 14,000 crore set in December 2024.
Apple’s iPhone exports witnessed a significant surge from October 2024, driven by the global launch of the iPhone 16, which was also manufactured in India. Since then, monthly exports have consistently topped Rs 10,000 crore, enabling Apple to achieve a record-breaking Rs 1 trillion in exports within the first 10 months of FY25.
According to the report, the value addition has risen from a mere 5-6% in 2020, driven mainly by labor and contract manufacturing costs, to 15-18% currently, with some models boasting even higher value addition.
Notably, the Production-Linked Incentive (PLI) scheme has given a significant boost to iPhone exports from India, as Apple diversifies its supply chain away from China. As a result, smartphones have emerged as one of India’s top 10 export categories, transforming the country’s export landscape.
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