Tim Cook, CEO of Apple Inc., will travel to India next week to open the company’s first retail stores there, highlighting the company’s objectives for the country as a growing market and manufacturing hub.
According to reports, Apple CEO Tim Cook will visit India next week. According to media reports, the CEO has planned a voyage to inaugurate the iPhone manufacturer’s first stores in the country.
Apple will establish its first store in India in Mumbai’s upscale Bandra Kurla Complex (BKC). In Saket, Delhi, a second Apple store will open. Apple BKC will open on April 18 in Mumbai, and Apple Saket will do the same in Delhi on April 20.
Seven years have passed since Tim Cook’s initial visit to India in 2016. The visit also coincides with the world’s most valuable company surpassing significant milestones: iPhone sales in India have reached an all-time high, and the country’s annual iPhone exports have reached billions of dollars.
Additionally, the visit highlights the company’s intentions for the country as a growing market and production base. Apple is counting on India to diversify its assembly operations beyond China in the midst of close ties between Beijing and Washington.
India is the second largest smartphone market in the globe. In 2020, Apple launched an online store in India.
Apple’s upcoming stores in Mumbai and Delhi have been in the works for quite some time, as India’s stringent restrictions prohibit foreign companies from operating own-brand stores unless a significant portion of the merchandise is sourced locally.
During his visit, Cook is also anticipated to meet with Prime Minister Narendra Modi. The Indian government has paid billions of dollars in incentives to lure Apple’s manufacturing partners, such as Foxconn Technology Group and Pegatron Corp., by promoting electronics manufacturing.