According to government data released on Monday, India’s iPhone production achieved a significant milestone, reaching $10 billion within the first seven months of the current fiscal year (FY25).
Of this, a record $7 billion was attributed to exports, showcasing the success of the government’s production-linked incentive (PLI) scheme.
In the previous fiscal year (FY24), Apple manufactured or assembled $14 billion worth of iPhones in India, with exports exceeding $10 billion.
Taking to X, Ashwini Vaishnaw, Union Electronics and IT Minister posted, “$10 bn iPhone production by Apple – $7 bn exports. Total smartphone exports from Bharat crossed $10.6 bn in 7 months.”
The Apple ecosystem has also driven significant job creation in India, with the Minister noting the addition of 1,75,000 direct jobs over four years. Notably, women filled over 72 percent of these positions.
The Cupertino-based tech giant has continued its upward trajectory, exporting iPhones worth Rs 60,000 crore (approximately $7 billion) between April and October this year.
Industry data reveals that Apple shipped nearly Rs 8,450 crore ($1 billion) worth of iPhones each month during this period.
In its quarterly earnings report, Apple announced an all-time revenue record in India for the July-September quarter.
CEO Tim Cook stated, “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.”
The rising demand for iPhones in India reflects the growing aspirations of its consumers.
Apple’s operating revenue in the country surged by 36 percent to Rs 66,700 crore (around $8 billion) in FY24.
Meanwhile, the company reported a profit of Rs 2,746 crore ($330 million), marking a 23 percent increase from Rs 2,229.6 crore ($268 million) in FY23.
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