Apple is making significant strides in the Indian market with its growing commitment to the country. The tech giant recently announced that it now supports more than 1 million developer jobs in India, and App Store payouts to Indian developers have more than tripled since 2018. Furthermore, Apple is preparing to open its first two retail stores in India, marking a major expansion for the company in the South Asian market.
Despite being the world’s second-largest internet market, most smartphones sold in India are priced below $250. However, Apple remains optimistic about the nation’s potential for growth. The iPhone-maker believes that India’s beautiful culture and incredible energy present opportunities for innovation that can serve humanity.
“At Apple, our mission is to enrich lives and empower people around the world. India has such a beautiful culture and an incredible energy, and we’re excited to build on our long-standing history—supporting our customers, investing in local communities, and working together to build a better future,” said Apple CEO, Tim Cook.
In preparation for the store openings, Apple has been actively recruiting employees in recent months. The company launched its Indian online store in 2020 and had initially planned to open its first retail location in 2021. However, the COVID-19 pandemic forced a delay. Apple is also working to turn India into a key global hardware manufacturing hub, thanks in part to the incentives offered by the Indian government to manufacturers expanding their presence in the country.
Apple exported more than $5 billion worth of smartphones from India, nearly half of all the country’s smartphone exports, in the financial year that ended in March, according to industry analysts. Apple’s contract manufacturing partners, Foxconn and Wistron, have increased local assembly of iPhones and other Apple devices in recent quarters. In fact, a report by JP Morgan analysts last year estimated that Apple is expected to expand its manufacturing capacity in India to produce 25% of all iPhones by 2025.
Apple began manufacturing iPhones in India in 2017 and has since worked with suppliers to assemble iPhone models and produce a growing number of components. The company’s work with Indian suppliers of all sizes supports hundreds of thousands of jobs across the country.
With the opening of its first retail stores in India and its continued investment in local communities and manufacturing, Apple is making a significant commitment to the Indian market. The company’s growing presence in India has the potential to create a significant impact on the country’s economy and job market.