India’s iPhone exports surged to a record ₹2 lakh crore in FY26, making Apple the country’s single largest branded export ahead of diamonds, automotive fuel, and medicines. According to vendor data, iPhones accounted for over 75% of India’s total smartphone exports worth ₹2.6 trillion ($29.4 billion), positioning Apple as the largest branded export under the Harmonised System classification. Apple’s rapid scale-up under the government’s production-linked incentive (PLI) scheme has been central to India’s ‘Make in India’ ambitions, with shipments rising from just ₹9,351.6 crore in FY22 to ₹2 lakh crore in FY26 despite global trade disruptions.
In a parallel development, Apple announced a major leadership transition, with John Ternus set to succeed Tim Cook as chief executive officer effective September 1, 2026. Cook, who has led Apple since 2011, will move into the newly created role of executive chairman, engaging with global policymakers and assisting with select company matters. The announcement comes after Cook had previously dismissed speculation about a leadership change, calling such reports “a rumour.”