iPhone exports from India doubles to $12.1 bn
This exponential growth underscores the pivotal role that India now plays in Apple’s global supply chain, it stated.
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NEW DELHI: Apple’s iPhone exports from India almost doubled to $12.1 billion in 2023-24 from $6.27 billion in the preceding fiscal, a report said on Tuesday.
The total smartphone exports from India surged to $16.5 billion in 2023-24, up from $12 billion in the preceding year.
Apple’s iPhone exports from India witnessed a staggering increase from $6.27 billion in the fiscal year 2022-23 to $12.1 billion in 2023-24, representing a massive surge of nearly 100 per cent. This exponential growth underscores the pivotal role that India now plays in Apple’s global supply chain, it stated.
The presence of India-made iPhones in the US market has been steadily gaining momentum, marking a significant stride in Apple’s strategic shift of its global manufacturing base to India, the report said. “Of particular significance is the US’s status as the largest importer of smartphones from India, with imports totalling approximately $6 billion in the fiscal year 2023-24.” Out of this substantial figure, iPhones constituted a significant portion, accounting for $5.46 billion.