Apple’s iPhone exports from India surpassed 1 lakh crore (around US$11.6 billion) in 2024, totaling 1.08 lakh crore rupees (around US$12.8 billion).

This figure represents a 42% increase from the previous year.

The local value addition for iPhones in India is now estimated at 15-20%, a rise from 5-8% when the Production-Linked Incentive (PLI) scheme was first introduced.

Additionally, domestic iPhone production increased by 46% year-on-year, reaching 1.48 lakh crore rupees (around US$17.5 billion).

India has become Apple’s second-largest iPhone production hub after China, with 2023 exports of US$9 billion, accounting for 75% of its US$12 billion domestic output.