Apple iPhone Exports from India: iPhone exports from the country increased by 31% during the first 10 months of the current financial year 2024-25 and crossed Rs 1 lakh crore. In the same period of the previous financial year 2023-24, iPhones worth Rs 76 thousand crore were exported from the country. This is the first time that iPhone exports have crossed Rs 1 lakh crore in a financial year.
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Apple iPhone Exports from India: Rs 1 Lakh Crore Milestone
Not only this, the company managed to export iPhones worth a record Rs 19 thousand crore in January. Foxconn, Tata Electronics, and Pegatron, which make iPhones on contract for Apple, have been producing iPhones in India since 2021 under the Production Linked Incentive (PLI) Scheme.
Earlier in December 2024, Apple had exported the maximum number of iPhones worth Rs 14 thousand crores. Tata has recently purchased a major stake in Pegatron. The price at which iPhones are supplied from the plant is called the Free on-board (FOB) price.
Since last October, Apple has been exporting more than Rs 10 thousand crore iPhones every month. Along with increasing production, Apple has also improved the domestic supply chain. The company has been exporting iPhones worth more than Rs 10 thousand crore every month since October last year. In 2020 it was around 5-6%. Now it has increased to 15-18%.
India’s iPhone Exports are now Second Only to Vehicle Fuel Exports.
Apple started shifting its supply chain from China to India 4 years ago. India is among the top 10 countries in terms of export of smartphones. Smartphones were ranked 167th among the products exported from India in the financial year 2014-15, now it is the second major product.
19 times more revenue received from incentives given under the PLI scheme. According to ICEA, the PLI scheme for smartphone manufacturing generated 19 times the revenue of the incentive between FY 2021 and 2024. During this period, goods worth Rs 12.55 lakh crore were produced and Rs 1.10 lakh crore was deposited into the government treasury. The government gave Rs 5,800 crore as an incentive. This scheme has created 3 lakh direct jobs so far.
Apple iPhone Exports from India: Apple’s Market Share Crosses 7%
According to the information given by Cybermedia Research (CMR), the share of Apple iPhone in the Indian smartphone market has increased to 7 % in 2024. The reason for this is the increase in production at the local level and the increasing trend of premiumization in small cities. In the October-December quarter of 2024, Apple entered the top five mobile brands in India. In terms of volume, the company’s market share had reached about 10 percent. More than 11 million shipments were made by Apple India in 2024.
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