Apple’s twin outlets to come up in Mumbai, Delhi
New Delhi, April 11: Tim Cook, the CEO of Apple Inc., will be traveling to India next week to open the company's first stores in the country, according to report.
This move highlights the tech giant's ambitions for India, both as a growth market and a manufacturing base. The two stores that will be opened are located in Mumbai and New Delhi respectively, and will be opened on April 18 and 20.
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This visit marks seven years since Cook's first trip to India, making it a special occasion for Apple as the sales of iPhones in India have hit an all-time high and exports from the country have reached billions of dollars. Furthermore, Apple is looking to diversify its assembly operations from China and expand into India, due to the current strained relations between Beijing and Washington.
The Mumbai store will be located in the upscale Bandra Kurla Complex, and the New Delhi store will be in the Saket neighborhood. In order to open the stores, Apple had to comply with India's strict rules which require global brands to source a significant portion of their goods from within the country. Apple also opened an online store in India in 2020.
Furthermore, Cook is trying to arrange a meeting with Prime Minister Narendra Modi, as his government has offered generous incentives to attract Apple's manufacturing partners such as Foxconn Technology Group and Pegatron Corp. During an earnings call, Cook expressed his optimism for the Indian market and noted that the company had achieved record quarter revenue and double digit growth year-on-year.
- With inputs from agencies
