On Friday, Apple Inc AAPL CEO Tim Cook and other tech executives met with Indian Prime Minister Narendra Modi at the White House, discussing opportunities and challenges in investing in India.
This meeting was part of Modi’s first state visit to the U.S. since becoming prime minister in 2014.
What Happened: The tech company execs spent over an hour with Prime Minister Narendra Modi, discussing opportunities and challenges in investing in India, CNBC reports.
See Also: India, US Agree To Drop 6 WTO Disputes Amid Modi Visit
After the meeting, Cook told CNBC that India represents a “huge opportunity.”
Large semiconductor companies like Micron and Applied Materials used Modi’s visit as an opportunity to announce plans to make significant investments in India.
Why It Matters: This meeting comes as Apple has been making significant strides in its investment in India. Earlier this year, Apple opened two retail stores in India, and it has plans to open three more flagship stores in the country. Furthermore, Apple is reportedly in talks with local banks and regulators to launch its Apple Card in India. These moves are part of Apple’s broader strategy to tap into the growing middle class in India, as the company sees the country as a significant growth market.
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