India’s role in Apple’s success: The story behind Rs 1 trn iPhone exports

Apple has surpassed the Rs 1 trillion-mark for iPhone exports from India in 2024, achieving record outbound shipments of $12.8 billion (Rs 1.08 trillion), thereby reflecting a 42 per cent year-on-year increase, reports The Economic Times.

This growth is attributed to enhanced local value addition, which now ranges from 15-20 per cent depending on the model, and a nearly 46 per cent rise in domestic production to $17.5 billion (Rs 1.48 trillion) compared to the previous year, as per initial estimates for January to December, the news report said.