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Apple likely to ring in nearly $40 billion iPhones from India in FY26

Could meet 80% of US demand and full domestic demand

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According to calculations and discussions, Apple in India has to increase the value of production from $22 billion, which includes doubling exports from $17.5 billion. To achieve this, iPhone exports will have to hit $32 billion-35 billion. (Photo: Reuters)

Surajeet Das Gupta New Delhi
Apple Inc’s target of iPhone production by value in India could be close to $40 billion by the end of FY26, enabling the firm to meet 80 per cent of its demand in the US and 100 per cent of growing domestic demand, according to stakeholders aware of the development. 
Discussions on this came against the backdrop of the 2025 second-quarter results call, hosted by Chief Executive Officer Tim Cook. There he said the majority of iPhones sold in the US starting April-June would come from India. This is mainly due to the US administration’s reciprocal tariffs, allowing the import