Tim Cook explains how India emerged as the most preferred market for tech giants

Expressing his satisfaction with India’s growing developer community, Apple CEO Tim Cook said the South Asian country has become a key market for the global tech giant, with the growing developer base attracting significant attention. Is.

“We are very pleased that the developer base in India is growing rapidly. Apple is working on the entire ecosystem from developer to market,” Apple’s CEO said in a post. Twitter by Minister of State for Electronics and Technology Rajeev Chandrashekhar. The report further said that the country has become a top priority for global tech companies due to its large talent pool, low operating costs and stable environment for supply chains.

Hailing Apple India’s double-digit revenue growth, Cook described India as an “incredibly exciting market”, emphasizing its importance as a key focus area for the company.

Cook said that despite a 4% decline in total revenue and a 10% decline in iPhone sales compared to the previous year, Apple achieved record revenue in India in the quarter ending March 2024.

“We grew double digits, and so we were very happy with that. It was a new March quarter revenue record for us. As you know, as I’ve said before, I see it as incredibly exciting. hoon market, and that’s a major focus for us,” ANI quoted Cook as saying about Apple’s performance in India.

Emphasizing the strategic importance of local production to maintain competitiveness, Cook said, “From a practical point of view, you need to produce there (India) to be competitive, and yes, from that point of view the two things are linked , But we have both operational things going on, and we have to go to market and continue to take the initiative.”

It is important to note that in this ever-evolving era of global geopolitical power, India has emerged as a beacon for global tech corporations. The revenue growth rate of big tech giants like Apple, Microsoft and Meta in India outpaced their global expansion rate last year.

Apple plans to support more than one million developer jobs in India by 2023, with further expansion planned.