The Economic Times reported on October 8 that India's exports of Apple products from April to September 2025 reached $10 billion, a 75% year-on-year increase, setting a new historical record. It is known that during the fiscal year 2024-25, about 80% of iPhones produced in India (worth approximately $17.5 billion, calculated on an FOB basis) were used for exports. In September alone, export revenue reached $1.25 billion, a 155% increase compared to $490 million in the same period in 2024. Analysts believe that the main reasons for the sharp increase in the scale of iPhone exports from India are two-fold: first, all models of iPhones have been simultaneously supplied to the global market directly from Indian factories at the time of new product releases. Second, there has been significant expansion of production capacity. In April 2025, Apple added two new factories in India: Tata Electronics' Hosur plant and Foxconn's Bengaluru unit. The total number of Apple contractors' factories in India has increased to five, significantly enhancing delivery capabilities. Data shows that the scale of Apple product production in India has jumped from $2 billion in the fiscal year 2021-22 to $22 billion in the fiscal year 2025, and it is expected to continue growing, making a major breakthrough in the production and export records of 2024. Analysts believe that due to the localization of the supply chain, the number of supply chain cooperation enterprises for Apple in India has increased to nearly 45, covering component manufacturing and assembly supply. Currently, the high tariffs imposed by the US on goods imported from India have not yet affected consumer electronics such as smartphones and computers. However, the subsequent performance of Indian-made iPhones will still be influenced by the progress of bilateral trade negotiations and related policies.
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