Apple iPhone exports from India hit record Rs 60,000 crore in April-Oct

New Delhi (The Uttam Hindu): In a new record, Apple has reached almost Rs 60,000 crore in iPhone exports from India in the first seven months during the current fiscal (FY25). In the April-October period, the Cupertino-based tech giant exported iPhones worth almost Rs 60,000 crore (over $7 billion), at almost Rs 8,450 crore (nearly $1 billion) worth export each month in the ongoing financial year, according to industry data. This time, the company is exporting newly-launched iPhone 16 models from India, apart from the other popular models in its 15 and 14 series.

Last fiscal (FY24), Apple exported iPhones worth over $10 billion and this fiscal, the tech giant has already achieved 70 per cent of that figure with five months to go — set for a new export record riding on the government’s 'Make in India’ and production-linked incentive (PLI) schemes. Apple manufactured/assembled $14 billion of iPhones in India last fiscal, exported more than $10 billion worth of devices. The iPhone exports from India surged to cross $10 billion in 2023-24 from $6.27 billion in 2022-23. Overall, the iPhone maker’s India operations reached $23.5 billion in value in the last fiscal (FY24).

In the July-September period, the Tim Cook-led company clocked an all-time revenue record in India. “We continue to be excited by the enthusiasm we're seeing in India, where we set an all-time revenue record. This has been an extraordinary year of innovation at Apple,” said Cook. Apple has two retail stories in India — in New Delhi (Saket) and Mumbai (BKC). “We can't wait to bring four new stores to customers in India,” the Apple CEO announced. Meanwhile, Apple posted its largest-ever quarterly shipment in India with 4 million units in the third quarter (Q3) of 2024, according to an IDC report. Apple also emerged as the second largest player in the online channel, with iPhone 15 and iPhone 13 as the highest-shipped devices.