India’s iPhone exports hit a record Rs 2 lakh crore in FY26, making it the country’s largest branded export, surpassing diamonds, automotive fuel, and medicines under the government’s production-linked incentive scheme for electronics manufacturing. Apple emerged as the top branded export across all categories, contributing over 75% to the total smartphone exports from India, which stood at approximately Rs 2.6 trillion ($29.4 billion). Automotive diesel fuel followed iPhones as the second-largest export at $14.53 billion, with diamonds, medicines, and motor gasoline trailing behind.
Apple’s significant growth in exports has positioned it as a crucial player in India’s manufacturing goals through the ‘Make in India’ initiative. Since the rollout of the PLI scheme, iPhone exports have surged from negligible levels to Rs 2 lakh crore within five years. The exports saw a substantial increase from Rs 9,351.6 crore in FY22 to Rs 85,013.5 crore in FY24, reaching Rs 1.5 lakh crore in FY25, and further growing by 33% in FY26 (April–February), despite geopolitical challenges and trade disruptions.
In a notable development, Apple announced that John Ternus will take over as the chief executive officer from Tim Cook, effective September 1, 2026. Cook, who has been at the helm of Apple since 2011, will transition to the role of executive chairman, engaging with global policymakers and handling specific company matters. Cook had previously dismissed leadership change rumors, reaffirming his dedication to leading the company.
