Apple has officially made its entrance into what is expected to be the world’s most populous country with the opening of its first brick-and-mortar store in Mumbai. CEO Tim Cook was on hand for the grand opening, and another store is set to open in Delhi soon. This milestone marks a significant moment for both Apple and India’s growing consumer market.

A Sea of Potential Customers

According to United Nations data, India’s population is on track to surpass China’s this year. With over 600 million smartphone users, the Indian market presents a massive opportunity for Apple. Although the high-priced iPhone may not be the go-to choice for most Indians, the Apple logo is becoming increasingly popular among the middle and upper classes.

In the first quarter of 2023, iPhone sales in India reached a new record, growing by nearly 50% compared to the same period the previous year.

More Than Just a Consumer Market

India is not only becoming a crucial market for Apple products but also a significant manufacturing hub. The latest iPhone models are produced in India, and Foxconn, Apple’s primary manufacturing partner, recently invested $700 million in a new facility in the country.

Tech Giants Expand in India

Apple is not alone in recognizing the potential of India’s market. Google and Samsung are also increasing their production footprints in the country, signaling a broader trend in the tech industry’s expansion into this rapidly growing consumer base. As Apple’s presence in India increases, it will be interesting to see how the tech giant’s strategy evolves to cater to this diverse and expanding market.