Hundreds of admirers of the iPhone giant queued around the store in a swanky shopping mall in the financial capital Mumbai, some of them waiting overnight.
Apple launched its online store in India in 2020, but had not opened an official physical shop until now due to previous investment rules, since relaxed, requiring foreign retailers to source 30 percent of raw materials locally, and pandemic delays.AFP | Punit PARANJPE "It also increases chances of the Indians buying iPhones made in India because of the sentimental value."
But Canalys analyst Sanyam Chaurasia told AFP that Apple could benefit from the premiumisation of India's smartphone market and financing schemes for both retailers and consumers.- Supply chain - India is also becoming central to Apple's plans to shift its production of devices and components away from China amid diplomatic tensions between Washington and Beijing and the supply chain fallout from strict Covid policies.