Apple’s iPhone has become India’s most valuable export item in 2025, with approximately $23 billion worth of devices shipped from local factories, primarily to the United States. This increase in Apple exports was fueled by initiatives like the production-linked incentive (PLI) scheme and a shift away from Chinese suppliers, as per industry experts. Smartphones, for the first time, surpassed automotive diesel fuel to become India’s leading export category, totaling $30.13 billion in exports for the year, with Apple constituting 76% of total smartphone exports. The five-year PLI window for Apple is set to conclude in March 2026.
Apple’s manufacturing presence in India comprises five iPhone assembly plants, three of which are run by Tata Group entities and two by Foxconn, along with a network of about 45 companies, including numerous MSMEs supplying components for both domestic and global operations. India has now become the world’s second-largest mobile phone producer, with over 99% of phones sold domestically being Made in India, indicating a progression up the manufacturing value chain. The purchasing behavior of Indian consumers in the smartphone sector has notably shifted, moving away from the traditional budget segment, with Apple’s iPhone 16 base variant emerging as the best-selling smartphone model in 2025, according to a report from Counterpoint Research.
During the December quarter, Apple achieved record revenue figures in the Americas, Europe, Japan, and the rest of Asia Pacific regions. Apple CEO Tim Cook highlighted the company’s growing momentum in emerging markets, including India, where substantial double-digit revenue growth was observed. Apple is scheduled to inaugurate another store in Mumbai on February 26. Tim Cook also mentioned that the company attained a quarterly revenue record in India during the December quarter, emphasizing India’s position as the world’s second-largest smartphone market and the fourth-largest PC market. He further noted that Apple achieved quarterly revenue records in various product categories, including iPhone, Mac, iPad, and services.
