Apple Inc. in the second week of February 2016 announced setting up of a Technology Development Centre (TDC) in Hyderabad, Telangana. For Apple, it will be the first TDC outside the USA.
With this announcement, Apple joined other big technology firms like Microsoft, Google and Facebook that focused on Hyderabad to expand their operations in Asia.
The centre will be set up at an estimated investment of 25 million US dollars and occupy 250000 square feet in Tishman Speyer's WaveRock facility.
The proposed TDC is of strategic value as, at present, Apple Inc. is the world’s largest mobile technology company and India is the world's fastest-growing smart phone market.
The setting up of the TDC is also part of Apple’s recent efforts to expand operations beyond the USA. Earlier, in January 2016, it announced setting up of Europe’s first iOS Development Centre in Italy.
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What: Will be set up