Apple Clocks Rs 1 Lakh Crore Value iPhone Exports From India In 2024: Trade | Expertise Information
iPhone Exports From India In 2024: Using on the federal government’s production-linked incentive (PLI) scheme and rising premiumisation development, Apple has reached Rs 1 lakh crore in iPhone exports from India within the calendar 12 months 2024. In line with early business estimates, Apple exported greater than $12 billion price iPhones final 12 months, which is greater than 40 per cent development from 2023.
Apple’s home manufacturing has surged almost 46 per cent from a 12 months in the past, as per estimates. The Cupertino (California)-based tech big manufactured/assembled $14 billion of iPhones in India final fiscal (FY24), with exporting greater than $10 billion price of iPhones.
Apple has reached over ₹1 lakh crore in iPhone exports from India in 2024.
iPhone exports from India.
2023: $9 billion
2024: $12.8 billion pic.twitter.com/CcaOGuSfYs
— Indian Tech & Infra (@IndianTechGuide) January 13, 2025
In the meantime, the Apple ecosystem has additionally created 1,75,000 new direct jobs in 4 years with “over 72 per cent ladies”. The 2024 turned the 12 months of Apple in India the place the tech big made new exports in addition to home sale data, pushed by the rising development of premiumisation, the federal government’s PLI scheme and aggressive retail growth.
Apple’s strategic strategy in India over the previous 12 months has resulted in important achievements and elevated market significance, in response to business specialists. In line with Tarun Pathak, Analysis Director, Cell Units and Ecosystems at Counterpoint Analysis, Apple has gained a share in India because of extremely aspirational youth enchantment, robust client join, channel and manufacturing growth together with strong advertising and marketing campaigns.
“Premiumisation in India, with available financing, boosts affordability for premium smartphones, benefiting Apple’s unique deal with this section,” Pathak mentioned.
Apple’s development in India is anticipated to proceed with important momentum within the coming 12 months, pushed by aggressive retail growth, focused advertising and marketing methods, and a deeper penetration into the aspirational Indian market.
In the meantime, India’s smartphone market is projected to cross $50 billion in worth by 2025, pushed by the continued development of premiumisation and thrust on native manufacturing. The retail common promoting worth (ASP) of India’s smartphone market is anticipated to cross the $300 mark for the primary time this 12 months, in response to newest analysis from Counterpoint’s ‘India Smartphone Outlook’.
Apple is main this shift by providing aggressive choices within the premium and ultra-premium segments. Apple is anticipated to see robust demand for its Professional fashions, pushed by native manufacturing and up to date worth reductions throughout its iPhone lineup.
