Apple Exports iPhones Worth USD 6 Billion from India

Apple Inc.'s iPhone exports from India increased by a third in the six months ending September, highlighting the company's efforts to expand manufacture in the nation and lessen reliance on China.

The US corporation shipped about $6 billion in value terms of India-made iPhones, up a third from the previous year, according to people familiar with the matter, who asked not to be identified because the information is confidential. This puts yearly exports on track to surpass $10 billion in fiscal 2024.

Apple is rapidly growing its manufacturing network in India, leveraging local subsidies, a qualified labor, and technical advancements. India is an important component of the company's efforts to reduce its dependency on China.

India is an important component of the company's aim to reduce its reliance on China, where risks have increased alongside Beijing's tensions with the US.

Tata Group's electronics manufacturing business exported approximately $1.7 billion in iPhones from its factory in Karnataka state between April and September, according to sources. Tata acquired this business from Wistron Corp. last year, making it the first Indian assembler of Apple's best-selling product.

According to federal commerce ministry data, iPhones make up the majority of India's smartphone exports, helping the product category become the biggest export to the United States at $2.88 billion in the first five months of current fiscal year. Five years ago, before Apple expanded manufacturing in India, the country's annual smartphone exports to the United States were only $5.2 million.

Apple still controls just under 7% of India's smartphone market, which is dominated by Chinese manufacturers such as Xiaomi, Oppo, and Vivo. And, while the global market for iPhones remains modest, Apple is making enormous bets.

The incentives provided by Prime Minister Narendra Modi's administration enabled Apple to construct its expensive iPhone 16 Pro and Pro Max models, which include better cameras and titanium bodies, in India this year. It is also looking to open new retail locations, notably in the southern tech hub of Bangalore and the western city of Pune.

Last year, Apple CEO Tim Cook opened its first stores in Mumbai, India's financial hub, and New Delhi, the country's capital.

The spectacular openings, the marketing blitz surrounding the new stores, an aggressive online sales drive, and a rapidly increasing middle class that wishes to possess Apple products all contributed to Apple's annual India revenue reaching a new high of $8 billion in the fiscal year ending March.