Apple Inc’s CEO, Tim Cook, has planned a visit to India next week to inaugurate the company’s first stores in the country, showcasing Apple’s ambitious plans for India as a significant growth market and manufacturing hub. According to anonymous sources familiar with the matter, Cook is expected to preside over the opening of two stores, one in Mumbai on April 18 and another in New Delhi on April 20.
This trip marks Cook’s return to India after his maiden visit in 2016 and coincides with Apple reaching important milestones in the country. India’s iPhone sales have reached an all-time high, and the annual iPhone exports from India have reached billions of dollars. Apple sees India as a strategic location to diversify its assembly operations beyond China, especially given the strained relations between Beijing and Washington.
Cook is set to open Apple’s first store in Mumbai’s upscale mall in the Bandra Kurla Complex, also known as BKC. A few days later, he will inaugurate the New Delhi store, located in a high-end mall in the Saket neighbourhood, which has already lifted its barricades on Tuesday.
The opening of these two stores has been a long-awaited event as India has strict regulations that require global brands to source a significant portion of their goods from within the country before they can open their own-brand outlets. Apple has already established its online store in India in 2020. Despite being the world’s second-largest smartphone market and one of the fastest-growing, Apple has faced challenges in India due to its relatively high prices, which can be a deterrent in a country where affordability plays a crucial role in purchase decisions.
During his visit, Cook is also expected to meet with India’s Prime Minister, Narendra Modi, who has been actively promoting electronics manufacturing in the country and has offered incentives worth billions of dollars to attract Apple’s manufacturing partners such as Foxconn Technology Group and Pegatron Corp.
Cook has consistently emphasized the importance of India as a market and production base for Apple during the company’s earnings calls. In the latest conference, Cook stated, “India is a hugely exciting market for us and a major focus. I’m very bullish on India.”
