# The filings show cumulative production of about $70 billion (FOB) over FY21–26 against an initial commitment of roughly $38.8 billion.

*business · news · 2026-04-19 · The Financial Express*

## Key points

- Cumulative iPhone production under India's PLI scheme reached $70 billion, nearly double initial targets.
- Actual smartphone exports hit $51 billion, significantly surpassing the committed $33 billion over the same period.
- India now manufactures one in four iPhones globally, with 76% of its smartphone exports being iPhones.
- Domestic value addition in iPhone manufacturing rose from 5% to 19% between FY21 and FY26.
- Apple's India launches now closely match China's, reducing the product introduction gap to near zero.

**Companies:** Apple, Foxconn, Tata
**Countries:** India, United States

[Read the full story on The Financial Express](https://www.financialexpress.com/business/news/apple-leads-fastest-consumer-electronics-ramp-up-tops-pli/4212411/)

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