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Overall smartphone exports from India stand at about Rs 2.6 lakh crore ($29.4 billion) during FY26.
iPhone shipments rose from Rs 9,351.6 crore in FY22 to Rs 44,269.5 crore in FY23, before climbing to Rs 85,013.5 crore in FY24 and Rs 1.5 lakh crore in FY25 as the PLI scheme gained traction.
India’s iPhone exports surged to a record Rs 2 lakh crore in FY26, marking the final year of the production-linked incentive (PLI) scheme for large-scale electronics manufacturing, according to a Business Insider report.
The performance has made Apple the country’s single largest branded export across all major categories classified under the Harmonised System (HS) code framework, which spans more than 5,000 globally traded product groups. The assessment is based on April-February export data for FY26 released by the Ministry of Commerce and Industry.
Overall smartphone exports from India stood at about Rs 2.6 lakh crore ($29.4 billion) during FY26. Of this, iPhones accounted for more than 75%, making them the second-largest export category under HS classification in the first 11 months of the fiscal. Automotive diesel fuel trailed at $14.53 billion, followed by diamonds at $11.23 billion, medicines at $9.98 billion, and motor gasoline at $8.5 billion.
The sharp rise reinforces Apple’s position as a key driver of India’s manufacturing push under the Make in India programme. The company’s supplier ecosystem now includes over 40 domestic firms, alongside global partners such as TDK Corporation and Taiwanese joint ventures, while largely excluding Chinese suppliers.
Exports have scaled rapidly over the past few years. iPhone shipments rose from Rs 9,351.6 crore in FY22 to Rs 44,269.5 crore in FY23, before climbing to Rs 85,013.5 crore in FY24 and Rs 1.5 lakh crore in FY25 as the PLI scheme gained traction.
In FY26, exports grew a further 33% in the first 11 months despite geopolitical tensions and tariff-related disruptions. Manufacturing partners Tata Electronics and Foxconn contributed almost equally, operating some of India’s largest production facilities. These units employ between 19,000 and over 42,000 workers each, with women accounting for more than 70% of the workforce. Across Apple’s broader ecosystem, total employment has reached around 2.5 lakh.
Meanwhile, Apple CEO Tim Cook is stepping down from the job that he inherited from the late Steve Jobs, ending a nearly 15-year reign that saw the company’s market value soar by more than $3.6 trillion during an iPhone-fueled era of prosperity.
Cook, 65, will turn the CEO duties to Apple’s head of hardware engineering, John Tenus, on September 1 while remaining involved with the Cupertino, California, company as executive chairman. That’s similar to the transitions made by Amazon’s Jeff Bezos and Netflix’s Reed Hastings after they ended their highly successful tenures as CEO.
April 30, 2026, 4:42 PM IST
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