Apple 'Growing And Investing' In India Despite Tech Industry Cuts

CUPERTINO, CA — Apple has plans to expand in India as tech industry cuts continue to hit Silicon Valley.

The tech giant’s CEO, Tim Cook, met Wednesday with Prime Minister Narendra Modi and in a tweet said the company was “committed to growing and investing across the country.”

Modi in a tweet of his own said he was glad to “highlight the tech-powered transformations taking place in India” to Cook.

Factories in the country produce 5 percent of all iPhones, according to The Economic Times, which reported that the “Apple ecosystem” has created more than 100,000 new direct manufacturing jobs during the last two years.

The company is also this week opening its first Apple stores in India, with one in Mumbai opening Tuesday and another in Delhi set to open Thursday, CNN Business reported.

“The move comes as the world’s most valuable company continues to pivot to India, eyeing its potential as both a consumer market and manufacturing base,” according to CNN Business.

“… Apple’s increased activities in India are part of a broader trend of companies diversifying their manufacturing away from China.”

The Cupertino-based company recently cut positions from its corporate retail teams, eliminated certain management jobs and significantly reduced its contractors, Bloomberg reported.

Across the industry, major players including Amazon and Google have eliminated tens of thousands of jobs in recent months.