To combat rising tariffs, Apple has already increased production in India, sending about 600 tons of iPhones worth $2 billion to the U.S. in March. These shipments marked a record for both Foxconn and Tata, with Foxconn alone contributing $1.3 billion in iPhone shipments.

The manufacturing move aims to address massive US tariffs against China that could spur higher prices on the company's biggest-selling product.

The current iPhone manufacturing capacity in India with headroom for increasing local consumption and exports; investments lined-up by Apple and its partners Foxconn as well as Tata Electronics to add more production capacity;