New Delhi: Apple exported iPhones worth $5 billion from India during April to August of the current financial year. This is 50 percent more than the same period of the previous financial year. According to industry analysts, iPhone export figures will increase further in the festive quarter and the coming months with the start of production of iPhone Pro and iPhone Pro Max in the country. The new iPhone 16 series will be available in the country from September 20 with attractive financing options and other offers.

According to Union Railway and Electronics and Information Technology Minister Ashwini Vaishnav, Apple's latest iPhone 16 is being produced at a manufacturing plant in India. "Prime Minister Narendra Modi's 'Make in India' initiative is now promoting the manufacturing of iconic products for the world," he said in a post on internet media platform 'X'. iPhone exports are reaching one billion dollars every month thanks to the government's Production Linked Incentive (PLI) scheme.

iPhone exports from India grew from $6.27 billion in 2022-23 to $12.1 billion in 2023-24. Overall, the company's Indian operations reached $23.5 billion last fiscal. The company's revenue in India is expected to grow 18 percent (year-on-year) in 2024 and the new iPhone 16 series will help the company further strengthen its presence in the country. Not only this, it will also work to increase its exports.

Last year, Apple sold about 10 million iPhones in India. This year, this figure is expected to increase to more than 1.3 crores. Apple aims to make more than 50 million iPhones per year in India. Actually, the company wants to shift its production from China, due to which it is promoting production in India. While Tata Electronics is making iPhones for Apple in two plants, Foxconn and Pegatron are also manufacturing for it on contract.