Apple sets record: iPhone exports under PLI double to $10 bn in a year

Exports expected to cross 80% of its production

Apple has set a new record by exporting $10 billion worth of iPhones from India during FY24, according to data provided to the government — a 100 per cent increase over the previous financial year under the Production-Linked Incentive (PLI) scheme.

In terms of consumer products, this constitutes the largest-ever export of a single branded product by any company from India.

iPhone exports accounted for 70 per cent of Apple’s total production in FY24. Of the three suppliers, Foxconn exported 60 per cent of its total iPhone output; Pegatron 74 per cent; and Wistron (now the Tatas) 97 per cent.