Roger Fingas
During a recent meeting, Indian Prime Minister Narendra Modi reportedly invited Apple CEO Tim Cook to set up local manufacturing in his country, while also bringing up other topics like Apple Pay.
Cook "responded positively" to the manufacturing idea, an Indian government spokesman told the Times of India. The executive also advocated the idea of the app economy and its boons to entrepeneurship, and noted that Apple is making investments to expand its Indian operations.
Cook suggested that India is a special place for every Apple worker in that co-founder Steve Jobs visited the country as a young man, using the trip as inspiration for launching Apple.
The pair further brought up the topic of Apple Pay, and how it might be a part of initiatives like Jan Dhan Yojana, a Modi program designed to expand the reach of financial services such as bank accounts. Apple Pay is currently available only in the U.S. and the U.K., and so far there have been no rumors of an Indian launch.
Cook was allegedly very interested in becoming a partner in Modi's Digital India program, intended to make government services available electronically, wire up rural areas with high-speed Internet, and improve digital literacy.
Though iPhone sales have done better in the past year, India has proven a tough market for Apple, owing to factors like the unique structure of its phone market and rules on foreign ownership. Even though there are over 4,000 places where people can buy Apple products, there are no official Apple Stores.
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22 Comments
India is the next big market for growth.
i think we see growth from China the next 3-5 years at least.
And after that India the next 5 years.
So Apple has 10+ years of growth that is untapped. They can easily grow revenue at an average of 7% the next 10 years.
India, Russia, Brazil are all big markets for growth for Apple.
[quote name="CanukStorm" url="/t/188552/indian-pm-invites-apples-tim-cook-manufacture-locally-talks-apple-pay-partnerships#post_2783304"]India, Russia, Brazil are all big markets for growth for Apple. [/quote] The BRIC hype is a bust. Those countries are growing (economically) slower than was originally theorized. Also if Apple moves any manufacturing to India, they'd be wise to move very slowly. The near-Communistic attitudes there could prove hazardous to Apple's investments.
Also if Apple moves any manufacturing to India, they'd be wise to move very slowly. The near-Communistic attitudes there could prove hazardous to Apple's investments.
Actually, India is one of the most democratic of all Asian-based countries. They're nowhere near as Communistic as one might think. And slow economic growth doesn't mean lack of potential for growing iPhone's user base. India's middle class is huge.
[quote name="SpamSandwich" url="/t/188552/indian-pm-invites-apples-tim-cook-manufacture-locally-talks-apple-pay-partnerships/0_10#post_2783306"] The BRIC hype is a bust. Those countries are growing (economically) slower than was originally theorized. Also if Apple moves any manufacturing to India, they'd be wise to move very slowly. The near-Communistic attitudes there could prove hazardous to Apple's investments.[/quote] Wouldn't that statement about communism also hold true for China, which has a long history of production and a more event history of amazing growth for Apple?
[quote name="SolipsismY" url="/t/188552/indian-pm-invites-apples-tim-cook-manufacture-locally-talks-apple-pay-partnerships#post_2783315"] Wouldn't that statement about communism also hold true for China, which has a long history of production and a more event history of amazing growth for Apple?[/quote] China is the "shop floor for the world" (a phrase they love to use), whereas India has no such high tech manufacturing base.