Apple CEO Tim Cook To Discuss A Wider Local Menu With Government Of India
During his proposed meeting with the government, Apple CEO Tim Cook is expected to discuss the company's plans to manufacture more products such as earphones and smart watches and export them from India, build the component eco-system, and even start local production and sourcing of manufacturing equipment through its partners in the country.
Plans are in the works to begin production of audio products such as headphones and earphones, smart watches, and even iPads in India with both existing partners and new third-party manufacturers with whom Apple has already begun discussions.
"Cook will outline Apple's production and export plans from India, where iPhones will be the focal point but other products will also be included." Apple also intends to establish a component eco-system in India, encompassing both the products it will manufacture and the equipment used to manufacture those products. "He will explain how these will help the country create jobs," said a senior industry official.
Hello there, Mumbai! We are extremely excited to welcome our customers to the new Apple BKC tomorrow.
Cook arrived in Mumbai on Monday afternoon and posted a picture on his Twitter account from the company's first owned store in the country in Mumbai that evening. The Mumbai store will open on Tuesday morning, followed by the New Delhi store on Thursday morning. He also plans to meet with senior ministers, including Prime Minister Narendra Modi. Cook had met the Prime Minister during his previous visit to the country in 2016.
According to industry sources, Apple is estimated to have clocked 50% share of smartphone exports from India valued at about $5.5 billion or Rs 45,000 crore. Estimates claim that Apple makes almost 7% of its iPhones in India through three partners – Foxconn, Wistron and Pegatron. All three manufacturers are approved under the government’s production-linked incentive scheme for smartphones.
For more than six years, India has been one of Apple's best-performing markets. According to IDC data, Apple sold approximately 6.7 million iPhones in India in 2022, up from 4.8 million units in 2021 and 2.7 million units in 2020.
In a statement issued on Monday, Cook stated, "India has such a beautiful culture and incredible energy, and we're excited to build on our long-standing history of supporting our customers, investing in local communities, and working together to build a better future with innovations that serve humanity."
The firm said its app developers in India together have created more than one million jobs while App Store payouts to developers in the country have more than tripled since 2018.