Apple Doubles iPhone Exports From India In March

Apple nearly doubled its iPhone exports from India in March as part of its efforts to stock up inventory ahead of the tariffs announced by the Donald Trump administration from April 2.

iPhone shipments from India for the month surged to INR 20,000 Cr from INR 11,000 Cr a year earlier.

The sharp increase in March exports, particularly to the US, comes as Trump announced the long-anticipated reciprocal tariffs on April 2. These tariffs include a baseline 10% duty on all imports into the US, with an additional 26% country-specific tariff on Indian goods, starting April 9.

According to preliminary export data seen by ET, Apple’s vendors exported iPhones worth nearly INR 1.5 lakh Cr in FY25, up from INR 85,000 Cr in the previous fiscal year.

This puts Apple ahead of India’s total smartphone exports in FY24, which stood at INR 1.3 Lakh Cr.

The March quarter alone saw iPhone exports worth INR 48,000 Cr, compared to INR 28,500 Cr during the same period last year.

While the January to March quarter is typically Apple’s most substantial export window, the report, citing industry executives, noted that this year’s spike was more pronounced due to early warnings about the impending tariffs.

(The story will be updated soon.)

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