In the fiscal year 2023-24, Apple’s iPhone exports from India were recorded to have doubled to $12.1 billion. As per The Trade Vision, in the previous fiscal year, it was $6.27 billion. The total smartphone exports from India in 2023-24 is $16.5 billion, which was $12 billion in the preceding fiscal year. This highlights the presence of Apple and its huge impact on the Indian manufacturing industry. Looking at the data, Apple’s iPhones witnessed a massive surge of about 100 percent in exports from India in fiscal year 2023-24. The Trade Vision LLC stated that this staggering growth underscores the huge role played by India in Apple’s growth in the global supply chain.
This proves that Apple’s decision to set up its manufacturing operations in India was motivated by factors like needing to diversify its supply chain, prevent risks associated with geopolitical tensions and capitalise on India’s growing consumer market. Monica Oberoi, Vice President, Sales & Marketing, The Trade Vision LLC, stated: “Initiatives such as the Production-Linked Incentive (PLI) scheme introduced by the Indian government have further incentivised companies like Apple to invest in local manufacturing.” As per the trade intelligence company, the presence of India-made iPhones in the USA market has been an important stride in Apple’s strategic shift of its global manufacturing base to India.
As per reports, the USA is the largest importer of smartphones from India, with imports totalling approximately $6 billion in the fiscal year 2023-24. Among these smartphones, Apple iPhones account for $5.46 billion in imports from India to the USA. The data shows that there has been a substantial increase from $2.1 billion recorded in the fiscal year 2022-23, indicating the growing preference for Indian-made iPhones among American consumers.
In 2021, Apple had decided to not keep all its eggs in China for manufacturing iPhone, iPad and Mac products. It decided to diversify the production lines and ramp up production of the iPhone and the iPad by setting up a base in India and Vietnam to strengthen its bases in other countries.
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