India's iPhone exports jump up to $6 billion in six months

Apple has been working to reduce its reliance on a single country, even as China has urged the company to continue investing in its factories. Despite also expanding in Vietnam, the major beneficiary of Apple's move has been India, with the country say it's their fastest growing firm there for 50 years.

According to Bloomberg, unspecified sources in India say that the country has exported almost $6 billion worth of iPhones in the six months through September 2024. Foxconn accounted for around half of that figure, with Pegatron and the Tata Group making up the rest.

The Tata Group is the first Indian assembler of the iPhone, following its purchase of the plant from Wistron in 2023. Its exports in the six months through September amounted to approximately $1.7 billion of iPhones.

These figures are reportedly what's called the estimated factory gate value. It doesn't include other costs such as taxes or shipping that are then added to the retail price.

Based only on the factory gate value, it's expected that India will now exceed the $10 billion total exports it made in fiscal 2024.

Separately, an Indian trade minister said in January 2023 that Apple was ultimately aiming to produce a quarter of all its iPhones in the country.