Sources: Apple's iPhone exports from India rose 33% YoY to ~$6B in the six months through September 2024, putting 2025 exports on track to pass FY 2024's ~$10B
- Exports of device rise a third in six months through September — Apple continues India push to reduce reliance on China
Context & Ripple Effects
Apple’s India export base had already expanded from more than $1B in exports since April 2022 to roughly $5B exported in the fiscal year ended March 2023, making the latest six-month figure part of a sustained production ramp rather than a one-off shipment spike.
The report follows a doubling of India iPhone assembly to about $14B in the prior fiscal year, showing that export growth is tracking a broader expansion of Apple’s manufacturing footprint in India.
First-order effects
- Apple’s India operations are shipping a larger share of iPhones abroad, with exports reaching about $6B in the six months through September and putting the annual run rate above the prior fiscal year’s level.
- India becomes more consequential to Apple’s near-term supply allocation as the company advances its stated effort to lessen dependence on China.
Second-order effects
- A larger export flow requires Apple and its manufacturing network to keep scaling India-based assembly and outbound logistics, reinforcing the country’s role as an export platform rather than only a local sales market.
- The shift gives Apple more production diversification relative to China; its pace can be assessed against India’s earlier rise to about 7% of iPhone production in fiscal 2023.
Third-order effects
- If the export trajectory persists, iPhone production is likely to become less geographically concentrated, with India serving as a more durable second manufacturing base alongside China.
- The key structural test is whether India’s assembly expansion continues to translate into reliable export capacity; this report documents momentum, not a completed replacement of China.
The trend: Apple is steadily diversifying iPhone manufacturing by turning India from a small production outpost into a larger export-oriented supply-chain hub.