New Delhi
Apple’s iPhone production in India reached $10 billion between April and October 2024, driven by the government’s production-linked incentive (PLI) scheme. This milestone includes $7 billion in exports, showcasing India’s growing role in global smartphone manufacturing, the centre said on Monday.
Last fiscal (FY24), Apple produced $14 billion worth of iPhones in India, exporting over $10 billion. In the current fiscal, iPhone exports hit nearly Rs 8,450 crore ($1 billion) each month from April to October. Minister Vaishnaw praised the achievement, highlighting that total smartphone exports from India surpassed $10.6 billion in the same period.
Apple’s manufacturing ecosystem in India has also created 1.75 lakh direct jobs over the past four years, with women making up more than 72% of the workforce.
The company achieved an all-time revenue record in India during the July-September quarter, reflecting strong demand for iPhones. CEO Tim Cook noted, “We’re excited by the enthusiasm in India, where we set an all-time revenue record. This has been an extraordinary year of innovation.”
In FY24, Apple reported operating revenue of Rs 66,700 crore ($8 billion) in India, a 36% increase year-on-year. The company’s profit also grew 23%, reaching Rs 2,746 crore ($330 million), compared to Rs 2,229.6 crore ($268 million) in FY23.
With continued growth in production, exports, and demand, Apple’s success underscores India’s potential as a global hub for smartphone manufacturing and innovation.
