Apple iPhone exports from India nearly double in April to $1.1 billion; may hit Rs 1 lakh crore mark in FY25

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Apple iPhone exports surge! Apple’s fiscal yr 2025 has begun with a outstanding surge in India, because the nation’s iPhone exports nearly doubled in April, reaching $1.1 billion (Rs 9,000 crore) in contrast to $580 million in the earlier yr.
Despite April being a sometimes low-export month due to the absence of main festive gross sales worldwide, consultants anticipate that the US tech big will obtain the Rs 1 lakh crore export milestone in FY25, solidifying India’s place as Apple’s second-largest iPhone manufacturing hub after China.
Currently, iPhones are solely manufactured in India and China, with estimates suggesting that 14-15% of manufacturing has already shifted to India, and this determine is predicted to climb to 26% by 2026, in accordance to an ET report.
A good portion of Apple’s whole manufacturing in India is for exports. In the monetary yr 2024, Apple’s total manufacturing in India reached a powerful $14 billion (Rs 1.2 lakh crore), whereas the corporate’s exports surpassed $10 billion (Rs 85,000 crore).

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Apple Exports From India

These figures signify the very best single-year achievement by any firm in India to date. It is vital to word that the export numbers replicate the freight on board (FOB) worth, which represents the worth at which the gadget leaves the manufacturing facility, and retail costs are roughly 60% increased than the FOB worth.
Apple has three contract producers working in India: Foxconn, Wistron, and Pegatron. All three of those producers are beneficiaries of the smartphone production-linked incentive (PLI) scheme, which has performed an important function in attracting and supporting Apple’s manufacturing operations in the nation.
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Foxconn, a Taiwan-based firm and the world’s largest contract producer, is the first exporter of iPhones made in India, accounting for over 70% of the whole exports. Wistron, which is now owned by the Tata Group, follows with a 27% share, whereas Pegatron manufactures the remaining iPhones. Pegatron can be in discussions with the Indian conglomerate for a majority stake sale.
Given the robust efficiency in April, officers consider that Apple is probably going to surpass the goal set for the fourth yr (FY25) of the PLI scheme.
Among the PLI beneficiaries, Apple’s contract producers are among the many few which have constantly met the targets. Samsung, a South Korean big, and Dixon Technologies, an Indian firm, have additionally been assembly the objectives for many, if not all, of the years for the reason that scheme’s inception in FY21. However, trade executives famous that the majority different PLI beneficiaries are struggling to obtain the targets.
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In FY21, the annual manufacturing of iPhones was round Rs 3,000 crore whereas exports have been negligible. In FY22, manufacturing rose to Rs 16,000 crore with exports of Rs 10,000 crore in the primary yr of the PLI scheme, the report mentioned.
Apple is making vital strides in the Indian market, with a progress of over 38% year-on-year in the home market, regardless of nearly all of iPhones manufactured in India being exported. The firm is decided to obtain a double-digit smartphone market share in India as shortly as potential, up from round 7% in FY24, leveraging its increasing native manufacturing operations.
The Apple ecosystem, which incorporates three iPhone producers and quite a few distributors, has generated greater than 150,000 new employment alternatives for the reason that introduction of the PLI scheme three years in the past, in addition to the corporate’s give attention to exports.
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Amidst geopolitical tensions and a decline in key markets such because the US and China, Apple has intensified its efforts in India, the world’s second-largest smartphone market. The firm has expanded its presence by partnering with hundreds of authorised resellers throughout the nation and collaborating with organised retail chains like Croma, Reliance Retail, and Vijay Sales. To enhance its quantity share to double digits, Apple has been offering enticing margins and extra incentives to retailers.
India’s electronics exports have skilled a 23.6% progress, reaching $29.1 billion in FY24, with cell phone exports, notably iPhones, taking part in a big function in making electronics the nation’s fifth-largest export class. The five-year PLI scheme, which has simply entered its fourth yr, has been instrumental in this progress.


Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.

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