Apple (NASDAQ: AAPL) is all set to establish its first technology development centre outside the U.S. in Hyderabad. Tipped to be built on 2,50,000 square feet of land in real estate firm Tishman Speyer’s WaveRock facility at Hyderabad’s IT corridor, it will offer jobs to around 4500 professionals.
With the official launch to be held in June 2016, it will commence full-fledged operations by the end of 2016.
Commenting on the establishment of Apple centre, Jayesh Ranjan, IT Secretary, Telangana said that it is a very positive development which will bring not only foreign investment but also jobs to India.
Moreover, Apple selected Hyderabad after searching all other major cities in India and Europe. Ranjan also added that the decision of having the facility in Hyderabad is a strong endorsement of the city as a major IT hub in the country.
Meanwhile, in a recently released statement, Amitabh Kant, Secretary, Department of Industrial Policy and Promotion (DIPP) confirmed the receipt of Apple’s application to open official retail stores in India.
According to reliable sources, the department is planning to expedite Apple’s application in such a way that the retail stores are opened along with the launch of the development centre.
Since Apple is a world class provider of cutting-edge technology, the company will get an exemption from a rule forcing foreign businesses that retail a single brand in India to procure 30 percent of a product’s inputs locally.
Apple is keenly looking to increase the market share of its devices by tapping emerging markets like India after Katy Huberty predicted six percent drop in profits.
Currently, Apple is depending upon third-party resellers to market iPhones, iPads and MacBooks. By opening Apple’s official store in major cities in India, the company is looking to expand by providing quality products with better support in addition to the quick availability of spares.