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Apple CEO, Tim Cook has announced that his company will setup retails stores in India. He said “We’re looking forward to opening retail stores in India down the road and we see huge potential for that vibrant country.” This will be significant move to the Apple company since India is one of the fastest growing smartphone markets in the world and is expected to grow into one of the largest by 2020.

Apple CEO, Tim Cook said, “India is now one of our fastest growing markets. In the first three quarters of this fiscal year, iPhone sales in India were up 51 percent year-on-year.”

Tim Cook, visited India in May, he had met Prime Minister Narendra Modi and discussed issues including manufacturing and setting up single-brand retail stores in the country. On a personal note, during the past quarter I visited China and India, and I am very encouraged about our growth prospects in those countries,” he said.

Tim Cook stated that Apple company is setting up of a design and development accelerator to support Indian developers creating innovative applications for iOS. Apple company will launch office in Hyderabad to accelerate Maps developments and this will create thousands of jobs here.

Telangana Chief Minister Kalvakuntla Chandrashekar said, “We are honored Apple chose Hyderabad as a home for its Maps development office, this will create thousands of jobs here and is a testament to our proactive approach, quality infrastructure and the excellent talent base we have in the region.”