India’s iPhone production reached a remarkable $10 billion (approximately ₹84,000 crore) in freight-on-board (FoB) value between April and October of FY25, IT Minister Ashwini Vaishnaw announced on Monday. This milestone represents a 37% growth compared to the same period in FY24, driven by the government’s Production-Linked Incentive (PLI) scheme. The majority of the production was geared toward exports, with only a smaller portion fulfilling domestic demand for Apple’s devices.
Strong Growth Backed by Exports
Citing a Business Insider report, the minister highlighted that Apple’s growing production in India reflects the country’s emergence as a key manufacturing hub for the tech giant. The $10 billion FoB value reportedly translates to $15 billion (roughly ₹1,00,000 crore) when factoring in sales, marketing, distribution, logistics, and margins. Of this, approximately $7 billion (roughly ₹59,000 crore) worth of iPhone models were exported, demonstrating India’s expanding role in Apple’s global supply chain.
October Sets New Production Record
The report revealed that October 2024 was a landmark month for Apple in India, with iPhone production hitting $2 billion (approximately ₹16,000 crore) in just one month. This record-breaking output underscores Apple’s confidence in India as a manufacturing base, bolstered by favorable government policies and increasing infrastructure capabilities. The PLI scheme has incentivized companies like Apple to deepen their investments in India, contributing to significant growth in high-tech exports.
India’s Role in Apple’s Global Strategy
Apple’s milestone in India highlights the country’s growing importance in its global production strategy. Beyond supporting the “Make in India” initiative, this achievement underscores the effectiveness of the PLI scheme in attracting multinational corporations to expand their manufacturing operations domestically. With continued growth, India is poised to become a critical node in Apple’s supply chain while contributing to the broader goal of positioning the country as a global electronics manufacturing hub.