Apple Inc. set a new benchmark in FY25 by exporting iPhones worth ₹1,50,000 crore (US$17.47 billion) from India, reflecting a massive 76% jump compared to the previous year. This recordbreaking figure surpassed Apple’s official target under the Production Linked Incentive scheme for mobile manufacturing, which was set at ₹74,900 crore (US$8.72 billion). The achievement also represents a sharp rise from FY24, when iPhone exports reached ₹85,000 crore (US$9.90 billion). Apple’s performance played a pivotal role in India’s smartphone export boom. The company accounted for nearly 75% of total smartphone exports from India in FY25, which collectively crossed ₹2,00,000 crore (US$23.29 billion). On a monthly basis, Apple shipped iPhones worth an average of ₹12,500 crore (US$1.46 billion) during FY25, up from ₹7,083 crore (US$824 million) each month in FY24. A new record was set in Q4 FY25, as exports hit ₹55,000 crore (US$6.40 billion) in just one quarter, with March alone contributing ₹20,000 crore (US$2.33 billion), largely to meet demand in the United States.
India’s overall smartphone exports grew more than 53% in FY25, compared to ₹1,30,000 crore (US$15.14 billion) in FY24. Alongside Apple, major players such as Samsung and several merchant exporters contributed to this rise. Apple’s share of this total rose from 66% in FY24 to 75% in FY25. Exports to the US reached ₹85,880 crore (US$10 billion), a 78% increase from ₹48,092 crore (US$5.6 billion) in the previous year. Despite this rapid growth, the outlook for FY26 remains uncertain. A recently announced 26% tariff by the US on Indian imports could create headwinds for Apple’s export momentum. However, industry analysts believe that the long-term trend remains encouraging, especially given the gains achieved under India’s smartphone PLI scheme. Since the launch of the scheme in FY21, India’s smartphone exports have jumped nearly ten times from ₹22,686 crore (US$2.64 billion) in FY21 to ₹2,00,000 crore (US$23.29 billion) in FY25. Back in FY15, smartphones were only ranked 167th among India’s top export items. By December FY25, they had climbed all the way up to second position, underlining the sector’s fast-evolving prominence in India’s export profile. To further strengthen this momentum, the government launched the ₹22,919 crore (US$2.67 billion) Electronics Component Manufacturing Scheme in March FY25. The initiative is focused on building a robust local ecosystem for key electronic parts, attracting fresh investments and enhancing India’s role in global supply chains. As India continues to rise in the electronics manufacturing space, Apple’s record-setting export numbers signal growing investor confidence and global market integration.
Source: IBEF
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