Apple Inc. Climbs Turnover Rankings in India as iPhone Manufacturing Expands

In 2025, Apple Inc. reached a market revenue of over INR 3 trillion thanks to the iPhones made by two important vendors, Tata Electronics and Foxconn (Hon Hai Technology Group). That puts Apple in second place, only behind Tata Motors Passenger Vehicles (TMPVL), the biggest listed manufacturing company in the country in terms of revenue. On the other hand, when focusing solely on standalone sales in India, Apple surpasses TMPVL significantly.

Financial Dynamics of Apple and TMPVL

Apple reportedly made $27 billion worth of iPhones in India in 2025 on a freight-on-board (FOB) basis, according to statistics given to the government. This amounts to INR 2.32 trillion at the average exchange rate of INR 86 to $1. The estimated total revenue from iPhones is more than INR 3 trillion, after taking into account the market value, which is approximately 1.3 times greater than the FOB value.

Revenues from Jaguar Land Rover were a part of TMPVL's combined total of INR 3.49 trillion in 2025. It made INR 59,260 crore in India on its own. The rapid and massive expansion of Apple is what distinguishes it from other top manufacturing organisations. With the help of the production-linked incentive plan for mobile phones with just one product, the company has reached these revenue levels in just five years. These numbers don't include the money that comes from AirPod assembly at the Telangana plant or the components that Indian vendors send to Apple's worldwide supply chain.

Apple Supply Chain Creates 2.5 Lakh Jobs in India

In recent years, Apple Inc. has grown into a major employer of blue-collar workers in India. In 2021, the government introduced the Production-Linked Incentive (PLI) programme to encourage the manufacturing of mobile phones, which has since benefited the tech titan. The Cupertino-based tech giant's India ecosystem has created more than 250,000 direct jobs in just five years, which is significantly more than what was first anticipated.

The PLI initiative will conclude in March 2026. Statistical evidence provided to the Ministry of Electronics and Information Technology (MeitY) by the Electronic Component Manufacturing (ECM) and the PLI programmes reveals an astonishing 70% female representation in these positions, with many of these women falling into the first-time worker age bracket of 19–24. About 140,000 direct employments have been generated in India by the two major iPhone assemblers, Tata Group and Foxconn. Thus, they have achieved more than the 118,290 posts they had first promised under the PLI framework. When considering that the government had originally aimed for 200,000 direct jobs over the course of five years from all participating enterprises, this goes above and beyond.