Apple sets new sales records in India as economy grows
In the end, Apple’s business in India is good for Apple’s business everywhere else, and manufacturing is only part of it. India is the fastest-growing major economy in the world, and while other economies stagnate, Apple owes it to its shareholders to seek growth.
And growth is what it is seeing in India.
Good for the US as well
Apple opens its fourth store in India this week, even as India became the world’s fourth-largest economy. For the US, of course, the great benefit here is that the more the company grows its business outside America, the more soft power it gives to its home nation and the more money it gets to send home, following whatever weird tax deals it does to maximize that cash.
The profits, as we know, are being invested in the US, where Apple CEO Tim Cook has committed $600b investment over the coming four years.
Apple’s business in India is doing the business, a local report claims. Apple’s sales there hit a record $9 billion high across the last year as demand for its products is growing fast.
Revenue increased 13% into March, with iPhones driving the growth and MacBook demand also increasing fast. iPhones currently account for one in ten smartphones in the US, and this gives big room for growth.
Tomorrow belongs to?
This really matters, as not only have smartphones pretty much reached saturation in most markets, unlike India, but while other economies continue to face anaemic growth, India’s is on the rise.
It means that every dollar Apple invests in India will pay dividends to its future business, helping it make more money to ship back home for reinvestment there. That’s one of the beauties of working in multiple markets, but Apple has not confirmed this growth (yet).
Apple’s decision to put some of its manufacturing in India may have created some tension in the US, but it has enabled it to protect itself against warning Chia/US relations and can be seen as a stepping point toward future investment in the US.
And what’s good for Apple’s business abroad is also good for its business at home – and good for the US in terms of future investment and tax revenue.
Follow me on social media! Join me on BlueSky,  LinkedIn, and Mastodon.
