According to the FT, citing data from IDC, the US accounted for about 28% of Apple's 2024 shipment of 232.1 million iPhones globally.
This move to shift to India means current production of iPhones in India is to double by the end of 2026.
As described by the FT, the shift will be further and faster than investors appreciate.
China remains the key target of US tariffs with rates as high as 145% before a 90-day pause was called.
See also: Trump says US to impose 30% tariffs on EU, Mexico next month
In contrast, India's tariff rate is 26%, although this is also on hold as talks with US on-going.
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On a visit to India this week, US vice-president JD Vance said the two countries were making "very good progress", reported the FT.
