Apple Doubles iPhone Exports From India In March 

Apple nearly doubled its iPhone exports from India in March as part of its efforts to stock up inventory ahead of the tariffs announced by the Donald Trump administration from April 2.

iPhone shipments from India for the month surged to INR 20,000 Cr from INR 11,000 Cr a year earlier. 

The sharp increase in March exports, particularly to the US, comes as Trump announced the long-anticipated reciprocal tariffs on April 2. These tariffs include a baseline 10% duty on all imports into the US, with an additional 26% country-specific tariff on Indian goods, starting April 9.

According to preliminary export data seen by ET, Apple’s vendors exported iPhones worth nearly INR 1.5 lakh Cr in FY25, up from INR 85,000 Cr in the previous fiscal year. 

This puts Apple ahead of India’s total smartphone exports in FY24, which stood at INR 1.3 Lakh Cr.

The March quarter alone saw iPhone exports worth INR 48,000 Cr, compared to INR 28,500 Cr during the same period last year. 

While the January to March quarter is typically Apple’s most substantial export window, the report, citing industry executives, noted that this year’s spike was more pronounced due to early warnings about the impending tariffs.

This comes at a time when Apple is consolidating its local value addition in the country. Reportedly, its local value edition is estimated at 15–20% (depending on the model), up from just 5–8% when the Production-Linked Incentive (PLI) scheme was first introduced.

This reflects Apple’s growing commitment to building a strong manufacturing base in India, now its second-largest iPhone production hub after China.

It is worth noting that Apple is looking to further expand its presence in India, both in manufacturing and retail. Recently, Apple was said to have started exporting electronic components of its products from the country to China and Vietnam for the first time.

On the market share front, India is on track to become Apple’s third-largest market by 2026, after China and the US.

With India growing disposable income and propensity to buy Iphones, the company has begun manufacturing its entire iPhone 16 lineup in India while also planning to open four more retail stores across major cities by 2025. 

Further bolstering the manufacturing efforts, Apple recently set up a new subsidiary called Apple Operations India, aimed at research, design, testing and providing support to third party manufacturers.

However, the company has been alleged of violating the competition law in the country. Recently, CCI also decided to continue its investigation into Apple, rejecting the company’s request to halt a probe report accusing the tech giant in violation of competition laws.