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It is good news for Apple enthusiasts as the company is set to open its first official retail store in India soon. This could prove to be a significant move for the company as it invests heavily in the South Asian nation for manufacturing and sales purposes. Apple has already started manufacturing iPhones in India and even the latest iPhones such as the iPhone 14 and iPhone 13 are being sold with the made-in-India tag.
Although Apple has not provided a date for the store opening, the company released a picture of the barricade of its retail store called ‘Apple BKC’ which is set to open in the country’s financial capital, Mumbai. The store is in the main business district alongside multinational banks within a luxurious shopping mall owned by billionaire Mukesh Ambani.
Apple’s growth in India
The launch of Apple’s first store in India is an indication of Apple’s desire to further enhance its expansion in India amidst reports that the country could overtake China as the world’s most populous nation this year. Apple is additionally building a store in New Delhi.
According to Bloomberg, Apple reshuffled the management of its international businesses to put a bigger focus on the South Asian nation, where online sales helped the Cupertino-based tech giant report record revenue in the quarter to December. Apple CEO Tim Cook compared Apple’s progress in India to its early years in China and said that Apple is putting “a lot of emphasis on the market”. With China’s ongoing Covid-19 restrictions, Apple has been subtly moving production away from the country to nations like India and Vietnam.
The Indian government’s efforts to encourage local manufacturing with its ‘Vocal for local’ policy, in addition to financial incentives and lower labour costs, have resulted in significant increases in iPhone production in India by major Taiwanese suppliers such as Foxconn Technology Group, Pegatron Corp., and Wistron Corp.
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