Apple CEO Tim Cook Meets PM Modi As iPhone Maker Seeks Deeper Market Access
Apple CEO Tim Cook said on Sunday the economic impact of the company in India in a meeting with Prime Minister Narendra Modi as the maker of the iPhone was looking for better access to the third world market for smartphones behind The United States and China. M. Cook met PM Modi at a Washington summit for business when Apple Inc. is the emerging Indian market as a source of revenue after the close of its sales in China.
Apple has asked representatives of the Indian Government a series of tax and policy changes to help build their iPhone assembly works in the country. He asks permission to open his own retail stores in India, where he currently sells iPhones through distributors.
During his meeting with PM Modi, M. Cook revealed that Apple is expected to have its operations in India fully exploited from renewable energy in the next six months, according to a person familiar with the discussion.
M. Cook reiterated that Apple had generated 740,000 jobs in India through its “application economy” and that Indian developers had created almost 100 000 applications from the App Store, the person said.
PM Modi spoke with M. Cook and other US business executives ahead of a meeting with President Donald Trump Monday.
Apple working with contract maker Winstron, began joining the iPhone OS in Bangalore last month. Indian authorities have offered tax benefits to Apple to work with the requirement to use more local components over time.
The company seeks India after sales in China’s largest region, once one of the main factors for the increase of Apple’s fell 14 percent annually to $ 10.7 billion in the last quarter.
Apple has not revealed the amount of revenue it generates in India, but said sales rose by “strong double-digit figures” in the last quarter.
“We have a lot of energy in the country on a number of fronts,” said M. Cook analysts about Apple’s efforts in India during the call to the company’s latest revenue. “We believe, especially now that the 4G infrastructure is in the country and continues to be expanded, there is a great opportunity for Apple.”