Apple iPhone Exports from India Reach All-Time High of Rs 60,000 Crore in April-October

In a remarkable achievement, Apple has reached a new record with almost Rs 60,000 crore in iPhone exports from India during the first seven months of the current fiscal year (FY25). This milestone marks a significant increase in iPhone shipments from India, which is set to continue growing through the rest of the year.

Record iPhone Exports in April-October

Between April and October 2024, Apple exported iPhones worth nearly Rs 60,000 crore (over $7 billion). This amounts to about Rs 8,450 crore (nearly $1 billion) in exports each month, according to industry data. The sharp increase in exports highlights Apple's growing reliance on its Indian manufacturing base, which has been bolstered by the government's 'Make in India' initiative and Production Linked Incentive (PLI) schemes.

New iPhone 16 Models Boost Exports

This year, Apple has been exporting newly launched iPhone 16 models from India, alongside older popular models from the iPhone 14 and 15 series. The inclusion of the latest models in the export mix has contributed to the surge in numbers. The iPhone 16’s production in India forms part of Apple’s broader strategy to diversify its manufacturing and export operations in Asia, with India playing a key role in this effort.

Surpassing Previous Fiscal Year Exports

Apple’s iPhone exports from India have already reached 70% of the total value from the previous fiscal year (FY24), where it exported over $10 billion worth of iPhones. With five months left in the current fiscal year, Apple is poised to break this record and achieve even greater export numbers. The company had manufactured or assembled iPhones worth approximately $14 billion in India last fiscal year, a major part of which was exported.

Surge in iPhone Exports Over the Years

The growth trajectory of iPhone exports from India has been steep. In FY23, the value of iPhone exports from India was just $6.27 billion, but this figure surged to over $10 billion in FY24. This upward trend underscores Apple's successful efforts to ramp up its production and export capabilities in India. The total value of Apple’s operations in India reached $23.5 billion in FY24, an indication of the company's strong commitment to its Indian market and production.

Record Revenue in India and Global Operations

In the July-September period of 2024, Apple also reported an all-time revenue record in India, thanks to strong sales of the iPhone 15 series. Apple CEO Tim Cook expressed excitement about the ongoing success in India, noting that the company had set multiple records, including its largest-ever quarterly shipment in the country, with 4 million units shipped in Q3 2024. This performance contributed to Apple's continued dominance in the Indian smartphone market.

Apple’s Growing Presence in India

Apple’s expanding presence in India goes beyond manufacturing and exports. The company recently achieved a significant milestone with the opening of its two retail stores in New Delhi (Saket) and Mumbai (BKC). Apple is set to open four more stores across India, further strengthening its consumer reach. These stores are part of Apple's larger strategy to cater to the growing demand for premium smartphones in the Indian market.

iPhone 15 and 13 Lead the Shipments in India

According to an IDC report, the iPhone 15 and iPhone 13 models were the highest-shipped devices in the online segment, and Apple emerged as the second-largest player in the online channel in India during the third quarter of 2024. This success in the online market reflects the increasing preference for Apple's products in the country, where digital sales channels are becoming an essential part of the retail strategy.

Conclusion: Apple’s Impressive Growth in India

Apple’s record-breaking exports, successful product launches, and continued investment in India showcase its pivotal role in the country's economy and the global tech landscape. With its robust growth in both exports and domestic sales, Apple is well-positioned to continue its upward trajectory in India.