Apple All In On India With Mumbai Move

Apple first teased an India expansion in January 2023.

The maker of iPhones and iPads may have started out west in California's Los Alto back in 1976 but its sights are now set on the east with the 2023 opening of its first-ever Mumbai Apple store.

Earlier this week, Apple  (AAPL) - Get Free Report revealed an image of a brightly-colored new retail location with the comment "Hello Mumbai."

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"We are getting ready to welcome you aboard our first store in India," the tech giant wrote. "And raring to see where your creativity takes you at Apple BKC."

The Mumbai Store Is A Major Move For Apple

Back in January, Apple first teased an India expansion by posting a dozen Apple store roles for "various locations within India" on the Careers section of its website. Some reported that certain posts on LinkedIn received more than 200 applications within 24 hours of appearing online.

The plan to come to India had been in the works since at least 2020 but was delayed by the pandemic. Apple has also had to navigate stringent Indian laws for foreign companies who operate in the country — one requirement was that at least 30% of the products sold in each store come from India.

There's not yet a timetable for the official door-opening in Mumbai but the store will be located near the city's financial district in Jio World Drive Mall. The mall is owned by local real estate magnate Mukesh Ambani and Reliance Industries.

Apple Has Had Its Sights On India For Years

Prior to an official rollout, Apple has worked with third-party resale partners in India for over two decades. It has also opened an online retail where customers could purchase Apple products digitally.

Still, the Mumbai location changes the game for Apple in Southeast Asia. Company chief executive officer Tim Cook has long indicated he wants to set up a retail presence in India, noting that he doesn't want anyone else running the brand for us" in April 2022.

Government officials believe Apple will be fully committed to its ongoing India operations. By January 2023, a government insider confirmed that Apple was looking to grow its manufacturing output in the country.

"Apple (is) another success story," Piyush Goyal said at a conference in New Delhi on January 23. "They are already at about 5-7% of their manufacturing in India. If I am not mistaken, they are targeting to go up to 25% of their manufacturing. They launched the most recent models from India, manufactured in India."