Apple’s India iPhone output may hit US$70 billion in five years, according to a MoneyControl report.
This would be fueled by a sharp surge in exports to the United States, according to data submitted by key vendors to the Indian government. Fiscal year 2026 is likely to be the strongest year of the five-year production-linked incentive (PLI) scheme for smartphones, contributing nearly 36% of the total iPhone output value generated during the program, which concludes at the end of March, notes a report by Business Standard.
MoneyControl says exports have been the primary engine of growth. Vendor data indicate that about 70% of the cumulative output value, around $50 billion, has come from overseas shipments of India-made iPhones.
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