iPhone production in India reaches $10 billion milestone

Apple’s iPhone production in India touched the freight value of $10 billion (about Rs. 84,000 crore) between April and October of FY25, IT Minister Ashwini Vaishnaw revealed on Monday, citing a report. This translates to a growth of 37 percent compared to the same period in FY24, thanks to the government’s production-linked incentive (PLI) programme. Much of iPhone production was exported to other markets, with only a small percentage meeting domestic demand for Apple devices.

iPhone production is growing in India

In one after on X (formerly Twitter), IT Minister Ashwini Vaishnaw quoted a Business Insider report detailing Apple’s increasing production in India. The Cupertino-based tech giant’s FoB production of $10 billion (Rs. 84,000 crore) reportedly translates into a value of $15 billion (approximately Rs. 1,00,000 crore), taking into account factors like account sales, distribution, marketing, logistics and margins. account.

Of the total value, iPhone models worth around $7 billion (approximately Rs. 59,000 crore) were exported. The report notes that October was the high point of FY25 for the company as production touched the $2 billion (approximately Rs. 16,000 crore) mark in a single month – a milestone for Apple in India.

The government’s PLI program would play an important role in Apple’s growth in India. Data submitted by the companies as part of the initiative shows that Foxconn is the top iPhone maker for Apple in the country, contributing 56 percent of the company’s total capacity. Meanwhile, Tata Group, thanks to the newly acquired Wistron plant, accounts for 30 percent. Pegatron is yet another Taiwanese manufacturer that Apple depends on for iPhone production in India, with a 14 percent contribution.

Thanks to this growth, Apple has reportedly created 1,75,000 jobs in the last four years, with more than 72 percent of roles in India held by women.

The report highlights that Apple is targeting even higher numbers as part of its future growth plans. The target is to reach the $18 billion (approximately Rs. 1,50,000 crore) FoB mark by FY25, which translates to a value of over $25 billion (approximately Rs. 21,00,000 crore).