Apple is already looking forward to open its retail branded stores in India and is waiting for a DIPP approval. However, it looks like the company does not want to stop at that, as it is planning to set up its first technology development center outside the US in Hyderabad, according to a latest report from the Economic Times.
As per a senior Telangana official, Apple is investing around $25 million and will also likely employ about 4,500 people, said the report. The company is reported to acquire 250,000 square feet in Tishman Speyer’s WaveRock facility, which is Hyderabad’s IT corridor and is set to start in the latter half of this year.
Jayesh Ranjan, IT secretary of Telangana, told ET
This is correct. MoU will be signed after some approvals come. They’re (Apple) waiting for the SEZ approval (for the area) to come, which is expected to be given in a couple of days.
Google CEO Sundar Pichai had announced in December last year during his visit that the company will invest Rs 1,000 crore in its first company-owned campus in Asia, which will house 13,000 employees. Similarly, another tech giant, Microsoft also plans to expand operations in the state. In recent times, Apple has realized the potential in India has as a smartphone market. The company is expected to win approval from the government to launch the single brand retail stores in the country.