Tech giant Apple has announced plans to open its first brick and mortar store in India in 2021, as well as online sales operations this year.
An Apple spokesperson confirmed that chief executive officer (CEO) Tim Cook announced plans by the company to open its first physical store in India in 2021. The firm is also launching its online sales network in the country this year.
The news was delivered by Cook at an annual shareholders meeting in Cupertino, California.
A major reason Apple has not opened a store in India yet is that the country's regulations require foreign retailers to source at least 30% of their raw materials locally, from which the company has tried to seek exemption from.
As a result, devices such as the iPhone and the iPad have been sold through stores run by local partners.
Cook said Apple "needed to get approval from the government to go in there ourselves." He pointed out: "I don't want somebody else to run the brand for us."
India is considered a very big market for tech companies as the country has nearly 700 million internet users and almost an equal number of people who have yet to use the internet.
However, it has been a challenge for foreign firms to enter the market as the government tightens restrictions and has a growing tendency to shut down internet access at sensitive political moments.
While the price point has been attributed with the struggle of Apple to gain a foothold in the Indian market, the company has seen a recent upward trend in business in the country. A recent report by Canalys Research showed a more than 200% year-on-year increase in shipments during the fourth quarter of 2019.
Analysts point the driver of this surge to the rollout of a cheaper iPhone 11, as well as "excitement around its dual and triple cameras."
