Apple's iPhone exports from India have surged, with the company reportedly exporting $6 billion worth of smartphones in six months, indicating a strategic shift to reduce reliance on China.
Bloomberg indicates that the annual exports could reach $10 billion by fiscal 2024, with local subsidies, skilled workforce, and India's tech capabilities contributing to this growth.
In the first five months of the fiscal year, iPhone exports to the US amounted to $2.88 billion, a stark increase compared to just $5.2 million before manufacturing began in India.
Despite the export growth, Apple's iPhone only holds 7% of the Indian smartphone market, which is heavily dominated by Chinese brands like Xiaomi, Oppo, and vivo.
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