PLI Catalyst: Apple iPhones Achieve Unprecedented Exports of Rs 1 Lakh Cr in 10 Months
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Synopsis
In a remarkable feat, Apple has achieved record iPhone exports from India, totaling Rs 1 lakh crore in just ten months of the current fiscal year, benefitting from the government's PLI scheme.
Key Takeaways
- Apple's iPhone exports reached Rs 1 lakh crore within 10 months in FY25.
- January exports hit Rs 19,000 crore, a record for the month.
- iPhone exports grew by over 30 percent year-on-year.
- India is producing 325-330 million mobile phones annually.
- Apple's market share in India reached 7 percent in 2024.
New Delhi, Feb 10 (NationPress) Thanks to the government's production-linked incentive (PLI) initiative, Apple has achieved unprecedented iPhone export numbers from India, totaling Rs 1 lakh crore for the first 10 months (April-January) of the current fiscal year (FY25).
Industry statistics reveal that in January alone, iPhone exports soared to around Rs 19,000 crore, marking a record high.
Overall, iPhone exports from India have surged by more than 30 percent during the first ten months of this fiscal year (April-January 2025), compared to the same timeframe last year (Rs 76,000 crore).
Union Minister for Railways, Electronics, and IT, Ashwini Vaishnaw, celebrated this achievement on X, stating, “Another record performance under PLI scheme. PLI propels iPhone exports past Rs 1 lakh crore in just 10 months of FY25.”
He also noted, “Overall smartphones expected to cross Rs 2.25 lakh crore in FY25,” providing further optimism.
India is producing over 325 to 330 million mobile phones annually, with about one billion mobile devices currently in use across the nation.
Apple sees India as a significant market, with CEO Tim Cook mentioning a record growth quarter in December, where the iPhone was the best-selling model during the October-December 2024 period.
Cook added that the iPhone maintained its status as the top-selling model in India for the December quarter.
Remarkably, iPhones achieved a 7 percent share of the Indian smartphone market in 2024, driven by strong local production and a trend toward premium devices in smaller cities. Year-on-year, iPhones recorded a 23 percent growth, while iPads enjoyed an impressive 44 percent increase, according to CyberMedia Research (CMR) data.
In Q4 of 2024 (October-December), Apple entered the top five smartphone brands in India for the first time, capturing nearly 10 percent market share by volume.
Apple's shipments in India are projected to exceed 11 million units in 2024.
