CEO Tim Cook believes emerging markets, with their younger populations and fewer iPhones, will bring more prospects for growth for Apple

The Apple CEO is in India to inaugurate the US tech giant’s first retail stores in the world's biggest smartphone market after China

"The energy, creativity, and passion in Mumbai is incredible!" CEO Tim Cook, making his first visit to India in seven years, said on Twitter

The US tech giant’s CEO is in India to open the first official company-owned outlets in the country

The technology giant already mass produces its Apple Watch in the Southeast Asian country

The brightly-lit store, still in barricades, was "inspired by the iconic Kaali Peeli taxi art unique to Mumbai," Apple said in a statement

The data follows the iPhone-maker’s efforts to diversify production out of China, along with increasing investments in India from its suppliers

The Apple CEO is in Beijing to attend the China Development Forum, a government-organised event being held in full force again as the country emerges from its zero-Covid regime

Pegatron, currently responsible for 10% of Apple's iPhone annual production in India, intends to build a second facility near Chennai in Tamil Nadu state

Earlier this month, Foxconn said it was seeking cooperation in India in new areas like chips and electric vehicles after a visit to the country by its chairman

The deal will see the Taiwanese iPhone maker produce AirPods for the first time in another significant shift of tech production away from China

The world's largest contract electronics maker forecast significant growth in computing, cloud and networking and component products