- Apple’s iPhone production in India crossed $10 billion FOB in FY24–25.
- 70% of production, worth $7 billion, was exported.
- Growth driven by India’s PLI scheme and major manufacturing partners.
Apple has reached a major milestone with iPhone production in India surpassing $10 billion Freight-on-Board (FOB) value in the first seven months of FY24–25, marking a 37% growth compared to last year. The market value of this production is projected to reach $15 billion, factoring in logistics and sales costs. About 70% of the production, worth $7 billion, has been exported, while the remaining $3 billion supports the domestic market.
The growth is largely attributed to the Indian government’s Production-Linked Incentive (PLI) scheme, which has encouraged Apple’s manufacturing partners, including Foxconn, Pegatron, and Tata Electronics (formerly Wistron), to expand operations in India. Foxconn accounted for 56% of the production value, while Tata Electronics contributed 30%.
Apple is now targeting $18 billion in iPhone production by the end of FY25, with a potential market value of $25 billion. This success highlights India’s growing role as a global manufacturing hub for high-value tech products, creating jobs and strengthening supply chains under the PLI scheme.
