Overview
- Apple’s annual sales in India topped $10 billion for the fiscal year ending in March, a double-digit increase from about $9 billion the year before.
- Strong iPhone demand drove the gain, with industry research showing iPhone shipments rose about 24% to roughly 14 million units in FY26.
- Manufacturing has shifted materially to India, with about one in four new iPhones now assembled there and several local factories serving both domestic and export demand.
- New Indian policy moves that remove some import duties on components and propose extending tax breaks for equipment to 2041 should lower input costs for local iPhone production.
- High local taxes and a roughly 10% rupee decline versus the dollar keep retail prices above U.S. levels, so Apple relies on bank offers, trade‑ins and financing to broaden buyer access.