New Delhi: Apple has clocked a record $10 billion (about Rs 88,730 crore, current currency conversion) worth of iPhone exports from India in the first six months of this fiscal, up 75% from $5.71 billion in the year-ago period, officials aware of details told ET.
In September alone — traditionally a lean period, along with August, as users await new models — Apple clocked outward shipments worth $1.25 billion. This was despite massive domestic demand for the latest iPhone 17 series, which is catered to by India, the people said. This September was a whopping 155% jump from $490 million exports in the month last year, show data available with ET.
Apple launches its new iPhone series in September every year. Its export numbers scale from the month, picking up pace after Diwali due to rising international demand propelled by Thanksgiving holidays, Black Friday, Christmas and New Year sales in the West, experts said. This year, exports are also fuelled by the fact that for the first time, all iPhone models – including the Pro, Pro Max and Air – are rolled out from Indian factories for the global markets right from launch.
Earlier, there would be a lag of a few months for India-made Pro models to reach global markets.
Two New Factories
A query sent to the Cupertino-based tech major regarding exports data remained unanswered at the time of going to press.
Companies file their production and export data to the government on a regular basis as part of the smartphone production-linked incentive (PLI) scheme.
Officials said the ramp up in production and exports for Apple is primarily driven by the addition of two factories in April this year – Tata Electronics’ Hosur plant and Foxconn’s Bengaluru unit. There are now five iPhone factories in India.
With increased production, the percentage of exports has been rising consistently for Apple. “In FY25, Apple through its vendors produced $22 billion worth of iPhones, of which 80% or $17.5 billion worth of made-in-India iPhones were exported,” an official said, citing the data. To be sure, the production and exports numbers are based on freight on board (FOB) value at which the device leaves the factory. The market value or the retail prices are 50-60% higher. The government pays incentives on FOB value as part of the PLI scheme. Production of iPhones in India has increased from $2 billion in FY22 to $22 billion in FY25. The number is set to rise this fiscal year through March 2026, although likely US tariff and other restrictions could impact exports.
“At the current run rate, Apple is expected to cross the production and export figures of last year. However, it will also depend upon the international trade negotiations and the much-anticipated semiconductor tariffs under the 232 investigations by the US department of commerce,” an industry expert said, asking not to be named. The US’ current 50% tariffs on imports from India exclude smartphones along with computers and electronics. The US remains the largest export market for smartphones, including for Apple.
As per industry body India Cellular and Electronics Association (ICEA), smartphone exports to the US in the April-August period reached $8.43 billion, compared to $2.88 billion in the same period last year.
In September alone — traditionally a lean period, along with August, as users await new models — Apple clocked outward shipments worth $1.25 billion. This was despite massive domestic demand for the latest iPhone 17 series, which is catered to by India, the people said. This September was a whopping 155% jump from $490 million exports in the month last year, show data available with ET.
Apple launches its new iPhone series in September every year. Its export numbers scale from the month, picking up pace after Diwali due to rising international demand propelled by Thanksgiving holidays, Black Friday, Christmas and New Year sales in the West, experts said. This year, exports are also fuelled by the fact that for the first time, all iPhone models – including the Pro, Pro Max and Air – are rolled out from Indian factories for the global markets right from launch.
Earlier, there would be a lag of a few months for India-made Pro models to reach global markets.
Two New Factories
A query sent to the Cupertino-based tech major regarding exports data remained unanswered at the time of going to press.
Companies file their production and export data to the government on a regular basis as part of the smartphone production-linked incentive (PLI) scheme.
Officials said the ramp up in production and exports for Apple is primarily driven by the addition of two factories in April this year – Tata Electronics’ Hosur plant and Foxconn’s Bengaluru unit. There are now five iPhone factories in India.
With increased production, the percentage of exports has been rising consistently for Apple. “In FY25, Apple through its vendors produced $22 billion worth of iPhones, of which 80% or $17.5 billion worth of made-in-India iPhones were exported,” an official said, citing the data. To be sure, the production and exports numbers are based on freight on board (FOB) value at which the device leaves the factory. The market value or the retail prices are 50-60% higher. The government pays incentives on FOB value as part of the PLI scheme. Production of iPhones in India has increased from $2 billion in FY22 to $22 billion in FY25. The number is set to rise this fiscal year through March 2026, although likely US tariff and other restrictions could impact exports.
“At the current run rate, Apple is expected to cross the production and export figures of last year. However, it will also depend upon the international trade negotiations and the much-anticipated semiconductor tariffs under the 232 investigations by the US department of commerce,” an industry expert said, asking not to be named. The US’ current 50% tariffs on imports from India exclude smartphones along with computers and electronics. The US remains the largest export market for smartphones, including for Apple.
As per industry body India Cellular and Electronics Association (ICEA), smartphone exports to the US in the April-August period reached $8.43 billion, compared to $2.88 billion in the same period last year.
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