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Date: 13/09/2024

iPhone exports from India surge 54 pc in April-August

Apple’s export of iPhones from India touched the $5 billion mark for the first five months (April-August) of FY25 — a heady growth of 54 per cent over the $3.2 billion during the same period last year, the company’s vendors informed the government. With Apple deciding to make the iPhone 16 Pro and iPhone Max in India, it is set to give a fillip to the value of its exports from the country this financial year. Notably, the current five-month export figure matches Apple’s total exports for the entire FY22. Apple collaborates with three vendors—Foxconn, Pegatron and Wistron (now Tata Electronics)—under the smartphone production-linked incentive (PLI) scheme, with a collective export commitment of $8.9 billion for FY25. In FY24, Apple manufactured over $14 billion worth of iPhones in India, with more than $10 billion value exported to Europe, West Asia and the US markets, as per a report.
 
Source: Exim News Service :New Delhi, Sept. 12



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