India’s mobile phone exports reach $6.5 billion in April-July
New Delhi New Delhi: Led by the iPhone, mobile phone exports from India reached $6.5 billion in the April-July period (Q1 FY25) – a growth of nearly 40 per cent compared to the same period last fiscal (FY23), industry data showed on Thursday. iPhone exports crossed $1 billion in the month of July – almost the same month-on-month performance as seen in the first quarter of FY25 – led by the production-linked incentive (PLI) scheme. Currently, iPhone exports account for nearly 70 per cent of total mobile exports from the country, industry data showed. According to experts, Apple’s performance in the April-July period was marked by contrasting fortunes and the long-term growth outlook remains positive, with the company well-positioned to capitalise on India’s growth trajectory with large local manufacturing plans in the coming years.
In the four-month period, online sales of iPhones improved. The iPhone 15 remained the top seller, primarily due to their significant upgrades over previous generations. Apple’s operations in the country reached $23.5 billion in the last fiscal year (FY24). The Cupertino-based giant generated revenues of nearly $8 billion in India last fiscal. Key Apple suppliers Foxconn, Pegatron and Tata Electronics (earlier Wistron) have ramped up the assembly of iPhones, as the country is soon set to enter the crucial festive season. According to Finance Minister Nirmala Sitharaman, the mobile phone industry in the country has matured, with domestic production growing threefold in the last six years and a nearly 100-fold jump in mobile phone exports. The electronics sector experienced rapid growth, reaching $155 billion in FY23. Production nearly doubled from $48 billion in FY17 to $101 billion in FY23
