ENA Sectors 2024-11-12 15:15:57 <p><span style="font-size:14px"><strong>Mumbai, Nov 12 (KNN)</strong> Apple is strengthening its foothold in India by establishing a new research and development (R&amp;D) subsidiary in the country.</span></p> <p><span style="font-size:14px">Part of Apples strategy to diversify beyond its reliance on China, this facility marks a significant expansion of the tech giants R&amp;D operations, which already span the U.S., China, Germany, and Israel.</span></p> <p><span style="font-size:14px">The India-based R&amp;D hub will focus on various functions, including research, design, testing, and supporting third-party manufacturers.</span></p> <p><span style="font-size:14px">Industry insiders say this facility will deepen Apples integration with Indias manufacturing ecosystem and original equipment manufacturers (OEMs), ultimately enabling the company to create India-specific products and solutions.</span></p> <p><span style="font-size:14px">Prabhu Ram, Vice President of the Industry Research Group at CyberMedia Research (CMR), emphasised Indias potential to mirror the role China once played in Apples growth.</span></p> <p><span style="font-size:14px"> Key to this growth is not just retail and marketing, but also robust R&amp;D operations. By focusing on India-centric R&amp;D, Apple can fuel the next wave of innovation, catering to the aspirations of Indian consumers and beyond, he told IANS.</span></p> <p><span style="font-size:14px">Apple has accelerated its manufacturing plans in India and Vietnam, leveraging Indias favourable business climate and local manufacturing policies.</span></p> <p><span style="font-size:14px">Notably, Apples Make in India iPhones have recently set new export benchmarks, with FY23-24 exports surpassing USD 10 billion&mdash;up from USD 6.27 billion the previous fiscal year.</span></p> <p><span style="font-size:14px">The companys overall India operations reached USD 23.5 billion last year, with USD 14 billion worth of iPhones assembled in India.</span></p> <p><span style="font-size:14px">The company is also expanding its retail presence in India. During Apples Q4 fiscal 2024 earnings call, CEO Tim Cook expressed excitement over the brands growth in India, announcing plans to open four additional stores.</span></p> <p><span style="font-size:14px">We set an all-time revenue record in India and look forward to bringing four new stores to customers. Were passionate about education and believe technology can help inspire and educate, said Cook.</span></p> <p><span style="font-size:14px">With exports from India expected to exceed Rs 50,000 crore (over USD 6 billion) in the first half of FY25, Apples Indian market and manufacturing base are primed to become integral to the companys global strategy.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39884 https://knnindia.co.in/news/newsdetails/sectors/apple-sets-up-new-rd-hub-in-india-strengthening-ties-with-local-manufacturing-ecosystem 2024-11-12 15:15:57 knnindia.co.in