Why is Apple opening stores in India?
Apple CEO Tim Cook has
opened the company’s first owned retail store in India, located in Mumbai,
India's financial capital.
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The move is the result
of years of planning and meeting regulatory requirements, including local
product sourcing. In order to emphasize China's growing significance, Apple
plans to diversify its manufacturing footprint and grow sales in the nation of
1.4 billion people.
Apple's deals in India
hit very nearly 6 billion bucks in the year through March. Apple has identified
India's expanding middle class as a lucrative growth opportunity in light of
the slowing global demand for technology and is increasing production there.
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