Recently Trade Vision said that, during the period between 2023-24, Apple’s iPhone exports from India almost doubled to $12.1 billion from $6.27 billion in the preceding fiscal, trade intelligence platform. The total amount of smartphone exports from India surged to $16.5 billion in 2023-24, up from $12 billion in the previous year. The company also stated that this surge highlights the broader impact of Apple’s presence on the industry, driving growth and innovation in the Indian manufacturing ecosystem.
Apple’s iPhone exports from India saw a massive increase from $6.27 billion in the fiscal year 2022-23 to $12.1 billion in 2023-24, representing a huge surge of nearly around 100 percent. The Trade Vision LLC stated that this exponential growth highlights the pivotal role that India now plays in Apple’s global supply chain.
Apple’s decision to upgrade its manufacturing operations in India has been motivated by numerous factors, including the need to diversify its supply chain, mitigate risks related to geopolitical tensions, and capitalize on India’s burgeoning consumer market.
Monika Oberoi, Vice President of Sales & Marketing from Trade Vision LLC, said that initiatives such as the Production-Linked Incentive (PLI) scheme introduced by the Indian government have further incentivized companies such as Apple to invest in local manufacturing.
According to the trade intelligence platform, the US market where the iPhones are made in India has been highly gaining momentum, marking an important stride in Apple’s strategic shift of its global manufacturing base to India. Of particular significance is the United States’ status as the largest importer of smartphones from India, with imports totaling roughly around $6 billion in the fiscal year 2023-24.
Out of this substantial figure, Apple iPhones created a significant portion, accounting for $5.46 billion. This represents a substantial increase from the $2.1 billion recorded in the fiscal year 2022-23, showing the growing preference for Indian-made iPhones among American consumers.
