Historically, Indian chutneys were cooked in the sun. This apricot version, heated on the stove, has bright flavors in common with its predecessors.
Heat oil in a medium skillet over medium heat until hot but not smoking. Add onion; cook, stirring frequently, until soft and translucent, about 4 minutes.
Transfer onion to a large saucepan. Add apricots, sugar, honey, raisins, and vinegar. Cook over medium heat, stirring, until thickened, about 25 minutes.
Pour chutney into a large bowl. Let cool completely. Serve at room temperature.
Chutney can be refrigerated in an airtight container, up to 1 week.