Bengaluru, April 29 -- Taiwanese electronics manufacturing giant Foxconn is said to have more than doubled its revenue from India to over $20 billion (around Rs.1.7 lakh crore) in the financial year 2024-25, fuelled by a surge in iPhone production, according to people familiar with the matter.

Earlier this month, Union IT Minister Ashwini Vaishnaw said that India's mobile phone exports hit a record Rs.2 lakh crore in FY25, with iPhone shipments alone contributing Rs.1.5 lakh crore.

Foxconn, the largest contract manufacturer of iPhones globally, is reportedly eyeing a major expansion in India, with plans to manufacture the entire iPhone line-up intended for the US market from its Indian facilities.

Major investments and expansion plans...