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Apple's iPhone Exports from India Surge in FY25

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According to official data reviewed by the Economic Times (ET), Apple has started the fiscal year 2025 (FY25) on a high note in India. The exports of iPhones manufactured in the country nearly doubled in April, reaching $1.1 billion (₹9,000 crore), up from $580 million a year earlier.

 

This significant jump in iPhone exports from India is particularly noteworthy, as April is typically a low-export month, with limited festive sales across the world.





Here is the rewritten article based on the information provided:

 

Apple's Explosive Growth in India: Exports of India-Made iPhones Soar

 

In a remarkable feat, Apple has kickstarted the fiscal year 2025 (FY25) with a bang in India. According to official data reviewed by ET, the exports of iPhones manufactured in the country nearly doubled in April to $1.1 billion (₹9,000 crore) from $580 million a year ago. This is particularly noteworthy as April is typically a low-export month, with limited festive sales across the world.

 

Buoyed by this momentum, experts expect Apple to achieve the coveted ₹1 lakh crore export mark in FY25 as India emerges as the firm's second manufacturing base for iPhones outside China. In fact, industry analysts estimate that 14-15% of iPhone production has already shifted to India and is likely to reach 26% by 2026.

 

Apple's total production in India touched a staggering $14 billion (₹1.2 lakh crore) in FY24, with exports crossing $10 billion (₹85,000 crore) - the highest figures achieved by any company in India for a single financial year.

 

The company's three contract manufacturers in India - Foxconn, Wistron, and Pegatron - have been the primary beneficiaries of the government's smartphone production-linked incentive (PLI) scheme. Foxconn, the world's largest contract manufacturer, leads the way, contributing over 70% of India-made iPhone exports, followed by Wistron (27%) and Pegatron.

 

Notably, Wistron is now owned by the Tata Group, while Pegatron is also in talks with the Indian conglomerate for a majority stake sale, underscoring the growing importance of the Indian market for global tech giants.

 

The rapid growth in iPhone exports from India has also had a ripple effect on the country's overall electronics exports, which rose 23.6% to $29.1 billion in FY24, making electronics the fifth-largest export category for India.

 

Alongside the surge in exports, Apple's domestic market share in India is also growing sharply, at over 38% year-on-year. Backed by its expanding local manufacturing operations, the tech giant is pushing hard to reach a double-digit smartphone market share in India as soon as possible, from around 7% in FY24.

 

The Apple ecosystem, including the three iPhone manufacturers and multiple vendors, has also created over 150,000 new jobs since the launch of the PLI scheme in the last three years. As the company doubles down on India, the world's second-largest smartphone market, it is poised to solidify its presence and further bolster the country's electronics manufacturing prowess.

 

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