Apple, the renowned iPhone maker based in the United States, is actively expanding its operations in India with the support of the Indian government, as stated by India’s Commerce and Industry Minister, Piyush Goyal. The Ministry of Electronics and Information Technology (MeITY) is in regular communication with Apple as the company continues to expand its presence in India. Currently, Apple manufactures iPhones in India through partnerships with electronics giants like Foxconn, Wistron, and Pegatron. In addition, Apple has been exporting goods worth approximately USD 5 billion from India, and the company has ambitious plans to have 25% of its global production come from India within the next 4 or 5 years.
Highlighting the importance of the Indian market, Apple is set to open its first retail stores in Mumbai and Delhi in April 2023. This move signifies Apple’s commitment to the growing demand for its products in India. Presently, Apple sells its products in India through various channels, including exclusive Apple Premium Reseller (APR) stores, large format retail chains, multi-brand retail stores, and e-commerce platforms. Market research indicates that Apple captured a 4% market share in India in 2022, with a noteworthy 17% year-on-year increase in shipments, showcasing the brand’s growing popularity in the country.
