Apple CEO Tim Cook on Wednesday confirmed the company’s first retail store in India will open in 2021.
As per the Apple Insider report, this was mentioned in a shareholder’s meeting this week, where he also pointed out the Cupertino-based giant will start selling products via its online store in India from later this year.
The development comes after the Indian government in 2019 decided to tweak its Foreign Direct Investment (FDI) regulations in retail to allow global companies like Apple to set up shop in the country; both online as well as offline.
Last year, a Bloomberg report mentioned that Apple is likely to consider Mumbai for its first retail store, which could be a huge challenge as the company usually adopts large size format for its stores.
Having said that, we’re still waiting for Apple to confirm the exact region where the store will be set up.
When asked by one of the shareholder about the reason for opening its retail store, Cook said, “I don't want somebody else to run the brand for us.”
Tim Cook and company have done multiple discussions with the Narendra Modi government over the past few years. Till now, Apple was only allowed to list its products on its Indian website, and soon the company will be selling its popular products though the platform in the country.
These changes have been appreciated by Apple, which is now busy setting up its base in the country, which includes assembling of iPhones as well.
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