iPhone exports from India are set to surpass $10 billion this fiscal year, with a remarkable one-third increase over the last six months ending in September. Apple shipped nearly $6 billion worth of iPhones produced in India, a significant rise from the previous year. If this growth trend continues, annual exports could exceed the projected $10 billion for fiscal 2024.
Apple is rapidly expanding its manufacturing capabilities in India, leveraging local subsidies, a skilled workforce, and the country’s technological strengths. This initiative aligns with Apple’s broader strategy to lessen its reliance on China amid escalating geopolitical tensions. Three major suppliers—Taiwan’s Foxconn, Pegatron, and India’s Tata Electronics—are already engaged in assembling iPhones in southern India.
Foxconn plays a crucial role in this production, with its local division near Chennai being Apple’s leading supplier in India, responsible for half of the country’s iPhone exports.
Hon Hai Precision Industry Co. Ltd., known as Foxconn Technology Group, is a Taiwanese multinational contract manufacturer of electronic products; it is the world’s largest contract manufacturer of electronic products and is one of the largest employers worldwide
