Apple has raised its iPhone exports from India significantly in March 2025, reaching INR 20,000 crore (US$ 2.3 billion). This is an increase from INR 11,000 crore (US$ 1.28 billion) in the same month last year.

This increase is linked to efforts to build inventory ahead of new tariffs imposed by the US government. Effective Apr. 2, 2025, the US implemented a 10% baseline duty on all imports, along with an additional 26% tariff on Indian goods, which will take effect on Apr. 9, 2025.

Industry sources report that Apple’s vendors exported iPhones valued at nearly INR 1.5 lakh crore (US$ 1.75 trillion) in FY25, an increase from INR 85,000 crore (US$ 9.9 million) in the previous fiscal year. This export value positions Apple ahead of India’s total smartphone exports in FY24, which totaled INR 1.3 lakh crore (US$ 1.5 trillion).

During the January to March 2025 quarter, iPhone exports were worth INR 48,000 crore (US$ 5.6 million). This is compared to INR 28,500 crore (US$ 3.3 million) for the same period in 2024.

Recent Apple developments