India sees Apple almost tripling investment, exports in coming years

U.S. tech giant Apple could double or triple investments in India, along with exports, over the next few years, a minister said, as the company opened a second store in the world’s biggest smartphone market after China.

U.S. tech giant Apple could double or triple investments in India, along with exports, over the next few years, a minister said, as the company opened a second store in the world's biggest smartphone market after China.

Apple mainly assembles iPhones in India through Taiwan contract manufacturers but plans to expand into iPads and AirPods, as it looks to cut reliance on China.

Its iPhones made up more than half of total smartphones worth about $9 billion exported from India between April 2022 and February, data from the India Cellular and Electronics Association shows.

"I am very confident that this Apple-India partnership has a lot of headroom for investments, growth, exports and jobs - doubling and tripling over coming years," Rajeev Chandrasekhar, the Deputy Minister for Information Technology, told Reuters.

His comments came after a meeting on Wednesday with Apple Chief Executive Tim Cook in the capital, New Delhi.

Mr. Cook, who also met Prime Minister Narendra Modi, said Apple was "committed to growing and investing across the country".

He inaugurated an Apple store in New Delhi on Thursday two days after opening its first outlet in Mumbai, the commercial capital.