Apple taps India's burgeoning mobile economy

US technology company Apple on Wednesday announced it would establish a design and development center for its iPhone operating system (iOS) in Bangalore, the home of India's tech startup scene.

"India is home to one of the most vibrant and entrepreneurial iOS development communities in the world," Apple CEO Tim Cook said in a statement.

"With the opening of this new facility in Bengaluru, we've giving developers access to tools which will help them create innovative apps for customers around the world," Apple's chief executive added, referring to the city by its official name.

Apple's decision to open an app development accelerator to support Indian developers comes as industry analysts expect continuing expansion in India's mobile industry over the next five years.

The consumer technology giant holds roughly one percent of India's mobile market share, according to American business magazine Forbes. Meanwhile, Samsung expanded its share of the market from 35.1 percent to 45.9 percent in 2015.

Accelerating market

According to GSMA Intelligence's 2015 report on India's mobile economy, the country is home to the third-largest smartphone market. However, it is expected to surpass the US to become the second-largest market in the coming years.

"With over half a billion mobile subscribers, the Indian market is already the second largest in the world," the report said.

"Technology migration is underway and accelerating, with more than 40 percent of mobile connections forecast to be running over mobile broadband networks by 2020," the report added.