Apple Sets Historic Record With Rs 1 Trillion Worth Of Exports: Report

Apple Inc. has reached a big milestone in its Indian manufacturing operations, exceeding Rs 1 trillion in free on board (FOB) export value during the first ten months of fiscal year 2025, says a report by Business Standard. This marks the first time the tech giant has crossed this threshold within a single financial year.

The tech giant's export performance from April 2024 to January 2025 demonstrated remarkable growth, with a 31 per cent increase compared to the previous year's Rs 76,000 crore. January 2025 proved particularly successful, with exports reaching Rs 19,000 crore, driven primarily by iPhone production from the company's manufacturing partners.

The strong performance can be attributed to Apple's expanding manufacturing presence in India, supported by key contract manufacturers including Foxconn and the recently consolidated operations of Pegatron and Tata. 

This  follows earlier reports from the Economic Times suggesting that total exports had already exceeded Rs 1 lakh crore (approximately $12.8 billion) in 2024.

Industry analysts, including from IDC, say that Apple's iPhone shipments in India reached over 12 million units in 2024, representing a substantial increase of 34-35 per cent from 9 million units in 2023. While projections suggest a potential moderation in growth rates for 2025, experts anticipate continued double-digit growth, which would reinforce Apple's position in the premium smartphone segment.