Apple, the American technology giant, has exported iPhones worth $6 billion (600 crore) from India. In the six months leading up to September, exports have increased by one-third, marking a significant shift as the company attempts to reduce its reliance on China. Analysts estimate that annual exports could surpass $10 billion (1,000 crore) in the fiscal year 2024.
The company is rapidly expanding its production network in India, leveraging local subsidies, skilled labor, and advancements in domestic technological capabilities. Experts in international relations suggest that increasing production in India is a crucial strategy for reducing dependency on China, particularly in light of rising tensions between Beijing and Washington.
Apple currently holds about 7% of the smartphone market in India. Its three main suppliers—Taiwan’s Foxconn Technology Group and Pegatron Corp, along with local Tata Electronics—assemble iPhones in the southern region of India. Foxconn’s local unit, situated in the suburbs of Chennai, is the country’s leading supplier, accounting for the majority of iPhone exports. Tata Group’s electronics manufacturing division has reportedly exported iPhones worth approximately $1.7 billion from its Karnataka facility between April and September. Tata acquired this unit from Wistron Corp last year, making it the first Indian company to assemble Apple’s best-selling product.
India is increasingly becoming a significant hub for iPhone production. In the first five months of the current fiscal year, it reached the top spot for U.S. smartphone exports, valued at $2.88 billion. Five years ago, before Apple began production in India, the annual smartphone export value to the U.S. was merely $520 million.
