Apple CEO Tim Cook met with India’s Prime Minister, Narendra Modi, in New Delhi this week to discuss the tech giant’s growth and investment plans for the country. During the meeting, Cook expressed Apple’s commitment to expanding its presence across India and investing in the country’s future.
Cook’s visit comes as Apple recently opened its first retail store in Mumbai on Tuesday, located in the premier Reliance Jio World Drive mall. The store is an impressive 20,800 square feet in size, far larger than the planned Delhi outlet. Apple will open another retail store in New Delhi on Thursday.
Following the meeting, Cook shared a picture on Twitter of him shaking hands with Modi, along with a message expressing Apple’s dedication to growing and investing in India. In response, Modi tweeted that it was an “absolute delight” to meet Cook and exchanged views on diverse topics.
Despite having just a 3% market share in India, Apple has been expanding iPhone assembly through contract manufacturers and boosting its exports. Data from the India Cellular and Electronics Association shows that iPhones accounted for more than 50% of the $9 billion worth of smartphones exported from India between April 2022 and February 2023.
Cook’s visit underscores Apple’s growing ambitions for the country. The tech giant has been working with local partners to set up its supply chain and assembly operations in India with the goal of making it a hub for manufacturing and exports. Apple’s presence in India is seen as crucial to its future growth, given the size of the country’s population and its growing middle class.
The Indian market presents a significant opportunity for Apple to grow its sales, as smartphone penetration in the country is still relatively low. Apple’s commitment to investing and expanding in India is seen as a positive development for the country’s tech industry and economy.
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For Digital Products and Services: Maurisys Software.
