Apple Exports Nearly Rs 60,000 Crore Worth of iPhones from India in FY25
New Delhi: Apple has achieved a remarkable milestone, with iPhone exports from India crossing nearly Rs 60,000 crore (over $7 billion) in the first seven months of the current fiscal year (FY25). Between April and October 2024, the Cupertino-based tech giant has been exporting iPhones at an average rate of nearly Rs 8,450 crore (nearly $1 billion) per month, according to industry data.
This record export figure includes newly-launched iPhone 16 models, in addition to the popular iPhone 15 and iPhone 14 series. Apple’s expanding production in India is driven by the government’s ‘Make in India’ initiative and the Production-Linked Incentive (PLI) scheme, which has significantly bolstered the company’s manufacturing and export operations in the country.
In FY24, Apple exported over $10 billion worth of iPhones, and with five months remaining in the current fiscal year, the company has already achieved 70% of that figure, setting the stage for a new export record. Last fiscal year (FY24), Apple manufactured and assembled iPhones worth around $14 billion in India, contributing significantly to its global supply chain.
Surge in iPhone Exports and Revenue Growth
iPhone exports from India surged dramatically in the past year, with figures crossing $10 billion in FY24, a substantial jump from $6.27 billion in FY23. In total, Apple’s operations in India reached a value of $23.5 billion in FY24, further underscoring the importance of India as a key manufacturing and export hub for the company.
The July-September period saw Apple posting an all-time revenue record in India, with CEO Tim Cook expressing enthusiasm over the company’s growing footprint in the country. “We continue to be excited by the enthusiasm we’re seeing in India, where we set an all-time revenue record. This has been an extraordinary year of innovation at Apple,” said Cook.
Apple’s increasing success in India is also evident in its retail operations. The company currently operates two flagship stores in India—one in New Delhi (Saket) and another in Mumbai (BKC). Tim Cook also revealed plans to expand Apple’s presence, with four new stores set to open soon.
Strong Performance in Indian Market
Apple’s performance in India continues to gain momentum, with the company recording its largest-ever quarterly shipment of 4 million iPhones in Q3 2024, according to an IDC report. Additionally, Apple has emerged as the second-largest player in the online retail channel, with the iPhone 15 and iPhone 13 being the highest-shipped models in India during this period.
