India’s iPhone Exports Surpass ₹1 Lakh Crore in 2024
India has achieved a major milestone in electronics manufacturing, with iPhone exports crossing ₹1 lakh crore in 2024. This marks a significant 42% increase from the previous year, driven by robust local production and enhanced value addition.
The record-breaking export figures highlight India’s growing importance as a global hub for iPhone manufacturing. Domestic production surged by nearly 46% year-on-year, reaching ₹1.48 lakh crore in 2024. Local value addition has also improved significantly, ranging between 15-20% depending on the iPhone model, reflecting increased integration of Indian suppliers in the production process.
The government’s production-linked incentive (PLI) scheme for smartphones has been a key driver of this growth, encouraging global giants like Apple to expand their manufacturing footprint in India. In addition to export growth, Apple has strengthened its local supply chain by partnering with Indian companies, further solidifying India’s role as a critical player in the global electronics supply chain.
India’s domestic market has also benefited, with Apple’s market share and revenue seeing substantial growth over recent years. These developments underline the success of initiatives aimed at boosting domestic manufacturing while reducing dependency on imports, aligning with India’s long-term economic goals.
The success of Apple’s operations in India sets a strong precedent for other global manufacturers, reinforcing the country’s position as a competitive destination for high-tech manufacturing and exports.
