Apple Inc. achieved a new monthly record by exporting iPhones worth $2 billion from India in November 2025, the highest value for the 2025-26 fiscal year (FY26). This surge brought total iPhone exports for the first eight months of FY26 to over $14 billion. Apple’s shipments alone accounted for nearly 75% of India’s total smartphone exports in November, which amounted to $2.7 billion; other contributors included Samsung ($432 million) and Padget ($48 million).
The growth is supported by an expanded manufacturing footprint, with two new factories added in FY26—one in Tamil Nadu and one in Karnataka—bringing the total to five plants operated by Tata and Foxconn. Industry estimates show total smartphone exports reached $18.7 billion for the April-November 2025 period, a 43% increase compared to the previous year. India is currently the world’s third-largest smartphone exporter and is projected to overtake Vietnam to become the second-largest by the end of FY26.
While the U.S. is the primary market for these exports, industry leaders have noted potential challenges. India currently enjoys a slight tariff advantage over China, which faces a 10% “fentanyl tariff” from the US. However, if China successfully negotiates these tariffs down to zero, India’s cost disability of 12-14% could make its exports less competitive.