Apple is setting up its first technology development centre outside the US and it has chosen India’s IT hub Hyderabad for the same.
Apple will be investing of $25 million, or Rs 170 crore in this regard, employing around 4,500 people.
The centre will spread across 250,000 square feet.
“This is correct. MoU will be signed after some approvals come. They’re (Apple) waiting for the SEZ approval (for the area) to come, which is expected to be given in a couple of days,” Jayesh Ranjan, IT secretary of Telangana, told ET.
Meanwhile, Google’s Sundar Pichai had said the company plans to open South Asia’s biggest campus and its only facility outside the US in Hyderabad in the next few years.
Apple views India as a bright spot as revenue in India surged 38 per cent in the October-December period, exceeding the 11 per cent growth in overall emerging markets and 14 per cent in Greater China, Apple’s second-largest market after the US. (Business Insider)