US Companies in India — 2026-10-23
Apple India has achieved a historic milestone by crossing ₹1 lakh crore in revenue for FY26, driven by a 31% growth in sales and a surge in iPhone volumes. Meanwhile, US Secretary of State Marco Rubio confirmed that the long-pending US-India trade deal is "close," signaling potential new opportunities in energy and defense sectors for American firms. Indian fintech Groww also expanded access to US stock markets, facilitating greater capital flow between the two economies.
US Companies in India — 2026-10-23
Top developments
Apple: Revenue Milestone and Market Dominance
Apple India Pvt Ltd reported revenue from operations of ₹1,03,853 crore (approx. $12.5 billion) for the financial year ending March 2026, marking the first time the entity has crossed the ₹1 lakh crore mark. This represents a 31% year-on-year growth, significantly outpacing competitor Samsung, which saw a decline in the same period. Profit jumped 66% to ₹5,311 crore, while iPhone unit volumes rose by 24%, reflecting deepening market penetration in the premium segment despite broader market slowdowns.
US-India Trade Deal: "Close" to Finalization
US Secretary of State Marco Rubio stated that the bilateral trade agreement between the US and India is "close" to finalization. Rubio urged New Delhi to increase its purchases of American energy and defense products to balance trade deficits. The administration is focusing on addressing unfair trade practices and advancing the interests of American workers, with the deal expected to unlock new avenues for US exporters in tech and critical minerals.
Groww: Democratizing US Stock Access
Indian investment platform Groww rolled out US stock investing to its entire customer base, offering access to over 10,000 US stocks and ETFs. The feature allows fractional trading with a low brokerage fee of 0.1%, significantly lowering the barrier for Indian retail investors to participate in the US market. This move aligns with the growing trend of Indian capital flowing into American tech and growth companies.
Deals, expansion & investment
The push for a US-India trade deal is targeting a bilateral trade volume exceeding $500 billion within the next three years. Key sectors identified for expansion include technology, energy, critical minerals, and defense. While specific new corporate investments were not announced in the last 24 hours, the diplomatic progress suggests a more favorable regulatory environment for future US corporate expansion.
Regulation & market context
The US Trade Representative (USTR) continues to monitor India’s digital regulatory framework, with concerns raised in the 2026 report regarding "impractical compliance deadlines" and takedown activities affecting US platforms. However, the current diplomatic momentum suggests a potential easing of these tensions as both nations prioritize strategic economic ties. Additionally, cross-border tax and regulatory compliance changes in mid-2026 are still being navigated by corporations, impacting how funds and workforce sponsorships are managed between the two jurisdictions.
On the radar
- Semiconductor Investments: While not a new announcement in the last 24 hours, the $430 million (₹36 billion) investment by Applied Materials in Karnataka remains a key focus for supply chain resilience.
- AI Infrastructure Demand: US tech giants like Google, Amazon, and Meta are continuing to fuel India’s renewable energy boom to power data centers, a trend highlighted in recent industry reports.
- M&A Trends: Despite fewer transaction volumes in 2026, larger "bigger bets" are being made by private equity firms, indicating a shift toward high-conviction investments in Indian startups and established firms.
By the numbers
- ₹1,03,853 crore: Apple India’s FY26 revenue, crossing the ₹1 trillion mark for the first time.
- 66%: Year-on-year growth in Apple India’s net profit, reaching ₹5,311 crore.
- $500 billion: Target bilateral trade volume between the US and India over the next three years.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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