Earlier this year, Tim Cook said that India is an “incredibly interesting” country for Apple, and now we’re starting to get some insight as to why.
According to a new report in FactorDaily, Apple is opening its first three Apple Stores in India in Delhi, Bangalore, and Mumbai. They should be up and running by the end of 2017.
FactorDaily’s report mentions that Apple is currently looking for commercial real estate for India’s first batch of Apple Stores, and the company is reportedly investing about $3 million to $5 million in each store. Apple first applied to open up Apple Stores in India earlier this year, after the country relaxed the rules around foreign-owned retail stores.
Apple’s investment in India goes much further, according to FactorDaily. Apple is expected to announce a startup accelerator in India later this week, when Tim Cook visits the country to meet the Prime Minister. India’s Economic Times is corroborating this report, adding that Apple’s initiatives will be tied to Startup India and Digital India, two government programs designed to spark entrepreneurship and business innovation in the country.
