Apple May Triple Investments, Exports In India In Coming Years: Rajeev Chandrasekhar

Rajeev Chandrasekhar said, "I am very confident that this Apple-India partnership has a lot of headroom for investments, growth, exports and jobs - doubling and tripling over coming years."

Chandrasekher meet with Apple CEO Tim Cook on Wednesday as he was in the national capital to inaugurate Apple Saket. 

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Minister of State for Electronics and Information Technology Rajeev Chandrasekhar has said that Apple could double or triple investments in India, along with exports, over the next few years after the firm opened its second official store in Delhi's Saket on Thursday.

Talking to news agency Reuters, Chandrasekhar said, "I am very confident that this Apple-India partnership has a lot of headroom for investments, growth, exports and jobs - doubling and tripling over coming years."

Chandrasekher meet with Apple CEO Tim Cook on Wednesday as he was in the national capital to inaugurate Apple Saket. Cook, who also met Prime Minister Narendra Modi, said Apple was "committed to growing and investing across the country".

After the meeting with Prime Minister, the Apple chief tweeted, "We share your vision of the positive impact technology can make on India's future - from education and developers to manufacturing and the environment, we're committed to growing and investing across the country."

PM Modi responded by tweeting: "An absolute delight to meet you, @tim_cook ! Glad to exchange views on diverse topics and highlight the tech-powered transformations taking place in India."

To reduce its reliance on China, Apple is aiming to expand into the assembly of iPads and AirPods in India through contract manufacturers in Taiwan. The Reuters report notes that its iPhones accounted for more than half of all cell phones shipped from India between April 2022 and February, totaling approximately $9 billion, citing data from the India Cellular and Electronics Association. 

Apple has had trouble constructing physical retail outlets in the country of South Asia in the past, although its items have been sold on e-commerce websites since the country's first online store launched in 2020, the report said. Adding that the new stores open as Indian customers increasingly desire to upgrade handsets from affordable models that typically cost less than $120 to glitzier models with better feature sets.

Apple has been attempting to expand its manufacturing base in India. Its manufacturers like Foxconn, Wistron Corp., and Pegatron Corp. are assembling products, including iPhones, in India.