Overview
- Vendor data submitted to authorities show iPhone shipments from India hit Rs 2 lakh crore in FY26, placing the device first among branded exports under the global Harmonised System classification.
- Smartphone exports totaled about Rs 2.6 trillion in FY26, with iPhones contributing over 75 percent or more than $22 billion, far ahead of diesel at $14.53 billion, diamonds at $11.23 billion, medicines at $9.98 billion, and gasoline at $8.5 billion.
- Exports climbed from Rs 9,351.6 crore in FY22 to Rs 44,269.5 crore in FY23 and Rs 85,013.5 crore in FY24, then reached Rs 1.5 lakh crore in FY25 before rising another 33 percent in FY26 through February.
- The scale-up stems from India’s Production-Linked Incentive scheme and the Make in India drive, with Tata Electronics and Foxconn expanding large plants, employing workforces where over 70 percent are women, and anchoring a supplier base of 40 plus domestic firms that largely excludes Chinese vendors.
- In a separate move, Apple said John Ternus will become CEO on September 1, 2026, as Tim Cook transitions to the new role of executive chairman.