India has become the largest producer of iPhones in the world, with $6 billion worth of iPhones manufactured in the country exported to various parts of the world. This shift followed Apple’s relocation of some of its factories from China to India.
In the fiscal year 2024, Apple aims to reach an annual export target of approximately $10 billion. Leveraging local subsidies, skilled labor, and advances in the country’s technical capabilities, Apple is rapidly expanding its manufacturing network in India. This move is also part of Apple’s strategy to reduce reliance on China for manufacturing, due to diplomatic tensions and associated risks between the US and China.
Currently, Apple has three main suppliers: Taiwan’s Foxconn Technology Group, Pegatron Corporation, and Tata Electronics, which assembles iPhones in South India. Foxconn’s local unit in Chennai alone handles half of the country’s iPhone exports.
Subsidies from the Modi government have enabled Apple to assemble its premium models, such as the iPhone 16 Pro and Pro Max with advanced cameras and titanium bodies, in India this year. Apple is also planning to open new retail stores in India, including in tech hubs like Bangalore in the South and Pune in the West. Bloomberg Intelligence reports suggest that by 2030, Apple’s sales in India could reach $33 billion.
