Apple is “committed” to growing and increasing its investments in India, the Cupertino-based giant’s CEO stressed, Tim CookThis Wednesday during a meeting with the Prime Minister of the Asian country, Narendra Modi.
“Thank you Prime Minister Narendra Modi for the warm welcome, we share your vision of the positive impact technology can have on India’s future. From education and development to production and the environment, we are committed to growing and investing across the country,” said Cook at Twitter after meeting with the Indian leader.
The executive director is in India on the occasion of yesterday’s inauguration in Mumbai of the first physical store of Apple in the Asian country, a definitive step in the multinational’s aspirations to settle in what according to the UN will become the world’s most populous nation by the middle of this year.
“An absolute pleasure to meet you! Tim Cook! Delighted to exchange perspectives on various topics and highlight the technology-driven transformations taking place at the India“, Modi replied on the same social network.
The meeting precedes the opening of a second physical location tomorrow at. New Delhias a celebration of the more than 25 years that Apple has been present in India.
Apple’s plans in India
Beyond direct sales of its products, Apple is present in India with several projects such as a training center for developers of mobile applications for its operating system. iOSlocated in the southern city of Bangalore, or the assembly of its smartphones in plants in the country, which generate almost 900,000 jobs.
Apple tripled its production of iPhone in the last fiscal year according to a report published by Bloomberg which cited sources familiar with the matter.
An upward trajectory that could lead the company to manufacture one out of every four iPhone in India by 2025, according to a report by investment manager JP Morgan released late last year.
Although the high price of most of its products keep it out of the top five most popular phone companies in the country, Apple dominates the “luxury” sector with a 60% market share by 2022, according to the International Data Corporation (IDC).