iPhone exports from India doubles to $12.1 bn
India's iPhone exports showed a massive increase, nearly doubling to $12.1 billion in 2023-24 from $6.27 billion the year before. Total smartphone exports from India also rose to $16.5 billion. Apple's shift in manufacturing to India is evident with India-made iPhones gaining momentum in the US market, where imports reached $6 billion, with iPhones accounting for $5.46 billion.
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FAQ: iPhone exports from India doubles to $12.1 bn
Frequently Asked Questions
FAQ: What has been the growth in iPhone exports from India recently?
Answer: According to available data from various reports, Apple's iPhone exports from India saw significant growth. In fiscal year 23, exports were reported to have increased almost fourfold to more than $5 billion.
FAQ: How much did iPhone exports from India amount to in the first quarter of 2023?
Answer: In the first quarter of 2023, India's iPhone exports jumped to USD 1812 million, driven by Apple's decision to boost production in the country.
FAQ: How much did India's smartphone exports increase by 2023?
Answer: India's smartphone exports nearly doubled to $10.9 billion, with a substantial proportion of this growth attributed to iPhone exports.
FAQ: Do iPhones make up a significant portion of India's smartphone exports?
Answer: Yes, iPhones have become a significant component of India's smartphone exports. For instance, in the first seven months of FY24, iPhones accounted for over 62 percent of the total smartphone exports from India.
FAQ: How did iPhone exports in December 2023 compare to previous periods?
Answer: In December 2023 alone, iPhone exports from India were reported to have exceeded $7 billion, showcasing a strong surge in export volume.
FAQ: What was the value of iPhone exports from India in fiscal 2023?
Answer: The ICEA report highlighted that iPhone exports from India increased to Rs 40,000 crore (approximately $5 billion) in fiscal 2023.
To note, these FAQs are based on the search results provided and may not be up-to-date at the moment of answering. For the latest figures and updates, please refer to the most current sources.