The honor to have Apple’s first technology development center outside America will be given to India. Company will build the facility in Hyderabad soon. 2,50,000 square feet of land will be acquired by the company to build the center. Hyderabad’s IT corridor will be the location of the center. Land would be drawn from Tishman Speyer’s WaveRock facility there. Rs.150 crore or $25 million are expected to be paid for the land transaction. The center will create more than 4,500 jobs in India. The full scale operations will begin by the end of current fiscal as the Apple will inaugurate its center in June. Apple has been exploring its options not only in India but Europe as well.
Secretary JayeshRanjan from IT department of Telangana said that the decision will endorse the image of Hyderabad as most looked after IT hub in India. It is a major development for Apple in India after the news reports pointed that that the company was looking for permissions to open retail stores in country.Department of Industrial Policy and Promotion (DIPP) already confirmed about Apple’s application to open famous Apple stores in India. Apple will only operate as single brand retailer which will allow it to operate as store with 100 percent FDI in retail.
Till now, Apple remains dependent on third party sellers to distribute its products in India. Like other companies from the United States, it has not been able to take advantage of growing market in India. Experts have already predicted first major revenue drop for Apple in last 13 years. This combined with a slowdown in China has pushed the California based company to India.
It is indeed a good news for Apple fans in India. Technology development center in India will help to bring down cost of Apple products in the country.