Apple Inc has been considering expansion in India since 2016, when chief executive Tim Cook met Prime Minister Narendra Modi for the first time. In an interview with CNBC in 2016, Cook expressed optimism about the significant market potential in India, stressing that Apple was bullish on the country’s prospects. The American tech giant’s interest in India is in line with its broader strategy of tapping into emerging markets and exploiting growth opportunities outside its traditional strongholds.
In April 2023, Cook visited India and once again held talks with Prime Minister Modi. During the visit, the Apple CEO not only committed to increasing investment in the country, but also inaugurated two Apple Stores. More importantly, several media reports suggest that workers at the Sriperumbudur factory on the outskirts of Chennai are now actively involved in assembling the iPhone 15, which was unveiled and went on sale in September.
The Cupertino-based tech giant is now reportedly exploring options to work with new suppliers, with a particular focus on companies from India, Japan and South Korea. The aim is to source key components for its contract manufacturers in India, including batteries, camera lenses, chargers and other essential equipment needed to produce Apple’s flagship iPhones and iPads in the country.
