Meanwhile, the Economic Times of India reported that Apple supplier Foxconn Technology Group is nearing completion of a deal that would reportedly allow it to establish a $10 billion plant for Apple products in Maharashtra.

Foxconn announced in May that it was hoping to develop 10 to 12 facilities－including data centers and factories-in India by 2020 that could employ up to 1 million people.

Tarun Pathak, a senior analyst of mobile devices and ecosystems at Counterpoint Technology Market Research, said at least in the short term, there is nothing for the Chinese to worry about in terms of competition for manufacturing jobs from Apple and Foxconn's expansion into India.

Pathak said there is currently little demand for Apple's relatively expensive products and noted that Apple's share of the smartphone market volume in India is only about 3 percent.

"India is still a small market compared with China, but it provides a long-term investment opportunity for Apple," said Pathak.

During Apple's 2016 second-quarter earnings call, Cook said he was encouraged by Apple's Indian growth, highlighting its promise. In the 2015 fiscal year, revenue topped $1 billion for the first time in India, while year-on-year second-quarter revenue increased 56 percent.

"But I view India as where China was maybe seven to 10 years ago from that point of view, and I think there's a really great opportunity there," said Cook.

Pathak disagreed with Cook's assessment, and said India more probably trails China closer than Cook admitted.

"Seven years is likely exaggerated. Historically, what happens in China only takes two to three years afterward to happen in India," said Pathak.

In contrast to its Indian growth, Apple sales in China－the Chinese mainland, Taiwan and Hong Kong－have been declining. January to March revenue fell 26 percent year-on-year to $12.5 billion.

Di Jin, research manager of International Data Corp China, said the decline in Chinese sales is representative of greater competition. That is unlikely to change.