During a meeting with India's Prime Minister Narendra Modi in New Delhi on Wednesday, Apple CEO Tim Cook pledged to expand and invest in the country. Cook is currently visiting India and inaugurated the company's first retail store in Mumbai on Tuesday. Apple is scheduled to open another store in New Delhi on Thursday.
In a tweet, Cook expressed his commitment to growing and investing in India, stating, "We share your vision of the positive impact technology can make on India's future - from education and developers to manufacturing and the environment." The tweet was accompanied by a photo of him shaking hands with Modi. The Indian PM responded by tweeting that it was a pleasure to meet Cook and discuss the tech-powered transformations taking place in India.
Cook's visit highlights Apple's growing aspirations for India, a country where it currently holds just a 3% market share. Despite this, the company has been expanding iPhone assembly via contract manufacturers and increasing its exports. According to data from the India Cellular and Electronics Association, around $9 billion (roughly Rs. 738 Crore) worth of smartphones were exported from India between April 2022 and February this year, with iPhones accounting for over 50% of that figure.
Apple's new retail store in Mumbai opened on Tuesday in the Reliance Jio World Drive mall, which is home to luxury brands such as Michael Kors, Kate Spade, and Swarovski. The store spans 20,800 square feet, which is larger than the planned Delhi outlet, as per local registration documents.
