Apple’s iPhone exports from India have amounted to $1 billion in the five months since April, and a Bloomberg report says shipments of India-made iPhones to Europe and the Middle East are set to reach $2.5 billion by March 2023, almost doubling the $1.3 billion worth of iPhones the country exported in the year through March 2022.
While that number is small in comparison to China’s production numbers, the increasing Indian output is a reflection of India’s local manufacturing policies, as well as Apple’s willingness to invest in the country’s production.
“The healthy growth in Apple’s manufacturing scale and export shows India is gradually assuming an important position in the company’s China plus one strategy,” Navkendar Singh, an analyst at tech researcher IDC, told Bloomberg. “And for India, this a big sign of the success of its financial incentives scheme.”
Apple’s Taiwanese assembly partners Foxconn, Wistron, and Pegatron are manufacturing iPhone 11, iPhone 12, iPhone 13, and iPhone 14 models.
Bloomberg recently reported that it will take somewhere around eight years to move a mere 10% of Apple’s production capacity out of China. About 98% of iPhones are still made inside of China.