The tech-giant comes to Hyderabad; Apple to setup Rs 150 crore tech development center
Following on footsteps of tech biggies Google and Microsoft, another giant, Apple is set to open its first technology development centre outside the United States of America in Hyderabad, says this report. The new centre, will be built on 2,50,000 square feet of land in real estate firm Tishman Speyer’s WaveRock facility at Hyderabad’s IT corridor. The amount of money to be pumped in is pegged at $25 million or Rs 150 crore. The report also reveals that this centre will create 4,500 jobs. The tech giant is expected to open its innovation centre in June launch full fledged operations by end of the year.
“It’s a very positive development as Apple has not looked at cities only in India, but across many places in Europe and other parts of the world. Their decision to have the facility in Hyderabad is a strong endorsement of the city as a major IT hub in the country,” Jayesh Ranjan, Secretary to IT department in the state of Telangana. Earlier this month, there were reports of Apple getting clearance to open retail stores in India too. Department of Industrial Policy and Promotion (DIPP) secretary Amitabh Kant had confirmed about receiving Apple’s application. A report said that the Indian government is planning to push through Apple’s application to set up outlets.
“Apple should qualify as a provider of cutting-edge technology. That would exempt the maker of iPhones and iPads from a rule forcing foreign businesses that retail a single brand in India to procure 30 percent of a product’s inputs locally,” the report adds. Needless to say, Apple makes most of its products in China.
This doesn’t come as a surprise as Apple is looking to expand markets in a bid to prove the most recent predictions wrong. Unlike others, Apple hasn’t tapped the potential of emerging markets like India and is heavily reliant on third-party resellers in India. Soon after Katy Huberty’s predicted six percent drop in profits, a first of sorts, Apple’s forecast revealed its first ever projected revenue drop in 13 years. This was driven, in part, by the slowest-ever increase in iPhone shipments as the Chinese market, critical to Apple’s growth, showed signs of weakening.