Apple’s iPhone Exports from India Surge to $5 Billion Amid PLI Scheme Success
New Delhi: Apple has achieved a notable milestone, reaching approximately $5 billion in iPhone exports from India during the April-August period of this fiscal year, driven largely by the production-linked incentive (PLI) scheme. This marks a significant increase of over 50% compared to the same period in FY24.
The value of iPhone exports is expected to rise further with the upcoming production of flagship models such as the iPhone Pro and Pro Max. The industry anticipates a boost in export figures in the festive quarter and the months following.
Union Railways and Electronics and IT Minister Ashwini Vaishnaw highlighted that Apple’s latest iPhone 16 series is being manufactured and launched globally from Indian production facilities. “Prime Minister Narendra Modi’s ‘Make in India’ initiative is now driving the creation of iconic products for the world,” Vaishnaw stated on the social media platform X.
Under the PLI scheme, iPhone exports from India have consistently achieved around $1 billion each month, contributing to a sharp increase in export figures—from $6.27 billion in 2022-23 to $12.1 billion in 2023-24. Overall, Apple’s operations in India reached a value of $23.5 billion in the last fiscal year.
The company’s revenues in India are projected to grow by 18% year-on-year in 2024, bolstered by the launch of the new iPhone 16 series. Apple’s sales in India, which hit nearly 10 million units last year, are expected to exceed 13 million units this year.
To support this growth, iPhone manufacturing facilities in India are set to create over 10,000 new jobs during the peak festival season. Apple aims to produce more than 50 million iPhones annually in India as part of its strategy to diversify production away from China.
Tata Electronics, along with Foxconn and Pegatron, plays a crucial role in this expansion, with Tata Electronics operating two major plants for Apple, becoming the largest job creator within the Apple ecosystem in India.
