iPhone 16 series | Photo: Official website of Apple
New Delhi: Apple’s iPhone production in India has reached an impressive $10 billion in the first seven months of the current fiscal year (FY25), driven by the government’s Production-Linked Incentive (PLI) scheme. Out of this, $7 billion came from exports, setting a new milestone, the government announced on Monday.
In the previous fiscal year (FY24), Apple manufactured $14 billion worth of iPhones in India, with exports exceeding $10 billion. This rapid growth highlights the success of India’s PLI scheme in boosting smartphone manufacturing and exports.
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Union Electronics and IT Minister Ashwini Vaishnaw celebrated the achievement in a post on X, saying, “$10 billion iPhone production by Apple with $7 billion exports. Total smartphone exports from Bharat crossed $10.6 billion in 7 months.”
Apple ecosystem boosts jobs and women’s workforce participation
The minister also emphasised the job opportunities created by Apple’s growth in India. In the past four years, the company has created 1,75,000 direct jobs, with over 72 percent of these roles filled by women.
Apple’s export figures underline its significant contribution to India’s economy. From April to October this year, the company exported iPhones worth Rs 60,000 crore ($7 billion), averaging Rs 8,450 crore ($1 billion) in exports each month, according to industry data.
Record-breaking year for Apple in India
Apple’s financial performance in India has also seen remarkable growth. The company achieved an all-time revenue record in the July-September period, fueled by rising demand. Apple CEO Tim Cook expressed his excitement about the Indian market, saying, “We continue to be excited by the enthusiasm we’re seeing in India, where we set an all-time revenue record. This has been an extraordinary year of innovation at Apple.”
In FY24, Apple reported a 36 percent increase in operating revenue in India, surpassing Rs 66,700 crore ($8 billion). The company also posted a profit of Rs 2,746 crore ($330 million), marking a 23 percent growth from the previous fiscal year (FY23).
IANS