iPhone exports in India surpass ₹1 lakh crore, Apple emerges as largest blue collar job creator: Report

The growth in exports was fueled by increased local value addition, which now stands between 15-20%, and a surge of as much as 46% in domestic production totalling $17.5 billion (₹1.48 lakh crore) as per estimates, the report added.

In 2023, the company recorded exports worth $9 billion, which was three-fourths of its total domestic manufacturing of $12 billion.

According to the report, the production and export figures are calculated based on the freight-on-board (FOB) value, which is generally about 60% lower than retail prices. However, the government pays incentives on the FOB value under the Production-Linked Incentive (PLI) scheme.

Apple’s local value addition has seen remarkable growth, reaching up to 20% for certain models, driven by the company’s expanding supplier network in India. When the PLI scheme was first introduced, the local value addition was only 5-8%, the report noted.

If this growth continues, Apple is expected to hit $30 billion in annual production within the next few years, increasing India’s contribution to global iPhone manufacturing to over 26%, up from the current 14%, it added.

Apple has also been focusing on transforming its retail efforts in India, the world’s second-largest smartphone market. The domestic smartphone market is increasingly leaning toward premium devices. Apple’s market share in India is poised to grow, with iPhone sales expected to rise by as much as 20% in 2025 and hit 15 million units. Currently, India is the fifth largest market for Apple.

Apple’s ecosystem has surpassed all the PLI projections in production, exports, and even job creation every year since the launch of the PLI scheme in 2021, the report said. It has become the fastest growing blue collar job creator in the private sector with 185,000 new direct jobs—with more than 70% women and the majority first-time job seekers, it added.