India's iPhone exports rang louder at ₹1.5 trn in FY25, 2x the PLI target

American technology giant Apple Inc exported iPhones worth a record ₹1.5 trillion (free on board value, or FOB value) in 2024-25 from India, marking a 76 per cent year-on-year jump and doubling the company's committed target under the production-linked incentive (PLI) scheme, according to figures provided by vendors to the government.

- SURAJEET DAS GUPTA

This surge is reported amid rising tensions over US trade policy, including high tariffs on Indian imports and uncertainty over their long-term impact on the country's outbound shipments.

In FY24, India's iPhone exports were pegged at ₹85,000 crore. Apple's PLI target under the mobile devices scheme stood at ₹74,900 crore for FY25. By ICEA estimates, the Cupertino-based company accounted for about 75 per cent of India's total smartphone exports, which may have crossed ₹2 trillion in the last financial year. Monthly iPhone shipments averaged ₹12,500 crore in FY25, up from ₹7,083 crore the year before.

An Apple spokesperson did not respond to a request for comment.