Big Tech: Apple bets big on India, launches first branded retail store

*Tim Cook, Chief Executive Officer of Apple Incorporated, is likely to deliberate on the global technology company’s plans to manufacture more products, and export them from India during his proposed meeting with the government, says report

Gbenga Kayode | ConsumerConnect

Apple Incorporated finally, launched its first branded retail store Tuesday, April 18, 2023, in India, with Tim Cook, Chief Executive Officer (CEO) of the global technology giant, welcoming a huge crowd  of consumers to the new facility.

ConsumerConnect learnt the global technology giant is betting big on India, as the company’s new-fangled Apple BKC is located at Mumbai’s bustling Bandra Kurla Complex in the country.

It is recalled, that Apple 2016 indicated the company had no intention of opening stores in India, if the Central Government did not exempt it from sourcing materials locally.

At the time, the 30-person sourcing commitment under the then FDI rules for single-brand retail could’ve been waived, if products involved “cutting-edge” tech, but that request was denied, ETtech report said.

India’s regulatory amendments on manufacturing, exports

India, in August 2019, finally amended the rules for single-brand licence holders to include exports and contract manufacturing to be counted in the mandatory 30 percent local sourcing norm over a period of five years, report stated.

Going forward, the global tech giant later signalled its intention to begin selling iPhones directly to Indian consumers first through its own online store.

Apple store becomes a reality

Initially, it was reported that Apple, October 2019, would open its first store in India, at BKC, Mumbai. The doors to this store opened April 18, while the one in Saket, Delhi, is set to open on April 20, 2023.

Cook greeted and welcomed the first set of product consumers at Apple store launch.

“Excited” Tim Cook at the commissioning of Apple’s first branded retail store Tuesday, in India, greeted and welcomed a huge crowd, and first customers amid desi drum beats.

Company has generated over one lakh direct jobs, says Minister

Rajeev Chandrasekhar, Indian Minister of State for Electronics and Information Technology, on the occasion said disclosed the Apple ecosystem in the country had generated over one lakh new direct jobs in manufacturing in the last two years.

Apple CEO to discuss wider local menu India

Meanwhile, Cook is likely to deliberate on the technology company’s plans to manufacture more products, apart from iPhones and export them from India during his proposed meeting with the government.

The proposed interaction with the Indian Government officials is likely to discuss plans to broaden the range of products the company manufactures in India.

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