California: Apple Inc. and its suppliers are planning a significant increase in iPhone production in India, aiming for the country to assemble 32 percent of the global production volume and account for 26 percent of production value by the fiscal year 2026-27. This expansion aligns with the end of the five-year Production-Linked Incentive (PLI) scheme for mobile devices.
If global iPhone sales hold steady at 2023-24 levels, this shift could translate into over US 34 billion dollars in production value. Discussions with Indian government officials and Apple’s suppliers informed these estimates, though Apple has yet to confirm, according to reports.
Apple’s vendor forecast FOB value US $9 billions in India
For the first half of the 2024-25 fiscal year, Apple's vendors forecast a freight-on-board (FOB) production value of US 9 billion dollars in India. By the close of this financial year, it’s expected that India will contribute approximately 17-18 percent of global iPhone production volume and 14 percent in production value.
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India’s share in global iPhone manufacturing reached 12-14 percent of volume in 2023-24, with a production value of around US 14 billion dollars. This figure is anticipated to increase to US 18 billion dollars in 2024-25, with a projected market value nearing US 27 billion dollars. The transition of iPhone production from China to India holds strategic significance, as iPhones make up 51 percent of Apple’s US 391 dollars billion global revenue for the fiscal year ending September 30, 2024. The recent move to assemble the high-value iPhone 16 Pro series in India is expected to further raise the country’s production value share, potentially driving considerable additional revenue for the Indian economy.
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