Apple’s CEO Tim Cook met with Indian Prime Minister along with other CEOs in Washington, D.C. at roundtable on Sunday. 21 corporate leaders attended including Google’s Sundar Pichai, Amazon’s Jeff Bezos and Microsoft’s Satya Nadella, alongside other chief-executives of U.S corporations.
What exactly was discussed?
The India Economic Times outlined some of what was discussed:
India’s Prime Minister Narendra Modi “pitched the implementation of the Goods and Services Tax amendment as not just a sign of his government’s unflinching commitment to reforms, but also an unprecedented exercise that should be a subject of research in American business schools.”
According to Modi 7,000 big and small steps were taken by his government, making business deals easier. He believes this in turn will attract investments from foreign companies.
Modi will attend a meeting with President Donald Trump today. Trump tweeted about the meeting on Saturday:
“Look forward to welcoming India’s PM Modi to @WhiteHouse on Monday. Important strategic issues to discuss with a true friend!”
Apple in India
As over 75% of the phones sold in India are being sold for under $250, with 95% also less than $500, the iPhone is struggling to break the Indian market. Apple is unable to beat companies like Samsung on price, resulting in Apple controlling just 3% of the smartphone market in India.
In May Apple began producing a small number of iPhone SE devices at its Wistron-run Bangalore plant. These locally produced iPhones could be around $100 cheaper, giving Apple the chance to compete in India.
