Apple CEO Tim Cook has opened the company’s first owned retail store in India, located in the financial hub of Mumbai.
The move comes after years of planning and meeting regulatory demands, including sourcing some products locally. Apple aims to increase sales growth in the country of 1.4 billion people and diversify its manufacturing footprint beyond China, highlighting the country’s increasing importance.Apple’s sales in India hit almost 6 billion dollars in the year through March. With tech demand slowing globally, Apple has identified India’s expanding middle class as a lucrative opportunity for growth and is adding production in the country at an increasing rate.
