India to become one of Apple's next market drivers

Tim Cook talks with Indian iOS developers during his first visit to the nation on May 18, 2016. [Photo/Cook's Twitter]

After shaking hands with Chinese iOS developers and country's technology regulators, Apple Inc's chief Tim Cook landed in India, becoming the first CEO of the California-based company to visit the nation in decades.

According to Xinhua News Agency, CEO Tim Cook discussed with Indian Prime Minister Narendra Modi on May 21 the "possibilities of manufacturing" and tapping the young talent pool in the country, said government officials.

"Cook shared Apple Inc's future plans for India. He spoke of the possibilities of manufacturing and retailing in India," said an official statement of the Prime Minister's Office.

Tim Cook talks with talents at the new Mac Lab at GNITS women's college on May 19, 2016 during his first visit to the nation. [Photo/Cook's Twitter]

According to local newspaper The Hindu, Cook said: "We are looking at India as a partner across (segments), not just for any one area. Manufacturing is something we will logically look at."

When asked if India could be as big as China for Apple some day, the Apple chief said that all the ingredients are in place for India to grow exponentially. "I see a lot of positive things happen in the country and more will happen. From GDP point of view there is no doubt in my mind that India will set new records. I can feel it will happen," Cook told the newspaper.

In an answer to whether the country will become the next "bullish market" like China for Apple, Cook expressed optimism about the future business expansion in India.

"India shouldn't try to be like anyone but itself, because India is fantastic. I think the multi-cultural nature of it, the warmth of its people… this is an advantage that is probably not well understood to the exterior world. I see a lot of positive things happen in the country and more will happen. From the GDP point of view there is no doubt in my mind that India will set new records. I can feel it will happen, all the ingredients are there," said Cook to a news channel.

Cook said he was not chasing market share in India but wanted to partner with telecom operators to enhance the quality of services. "We are in India for the next thousand years. Our horizon is very long. We are focused on best, not most. So it doesn't bother me that we don't have top market share," he said.

According to Cook, last year Apple did $59 billion worth of business in China and this is a big number for a company to do. But India is different than China.

"India is a different place and we are going into India very humbly. We've been selling here for a while as you know, but we are taking a step back in viewing India strategically and I do believe that the reforms that are going in India, means that India has an enormously bright future and we would like to be a part of that and we plan to be."