Apple aims to produce $70B worth of iPhones in India
Business
Apple is setting its sights on producing about $70 billion worth of iPhones in India by fiscal 2026, with exports to the US driving most of this growth.
Production could top $25 billion in FY26, a nearly 20% jump from FY25, thanks in part to India's Production-Linked Incentive (PLI) scheme, which is expected to hit its peak before wrapping up in March 2026.
Apple has ramped up production in India
About 70% of the cumulative value of India-made iPhones has come from overseas shipments, with a large and rapid rise in exports to the US
Between April and December of fiscal 2026, smartphone exports (mostly iPhones) to the US soared by 182%, reaching $14.1 billion.
To keep up, Apple's partners such as Foxconn and Tata Electronics have seriously ramped up their local production game.