Apple one step closer to opening retail stores in India

Reseting iPhone
Reseting iPhone (Image credit: iMore/Rene Ritchie)

Apple is getting closer to its bid to open retail stores in India. According to India's foreign direct investment norms, foreign brands undertaking single-brand license — which allows them to set up retail stores and sell products directly to customers — must source 30% of the materials locally. As Apple does not have a manufacturing facility in India, the company has sought to be exempted from the norms, and a government committee has signed off on the proposal:

The committee has found that the company's products are cutting edge technology and state-of-the-art. It has recommended to exempt them from the local sourcing norms.

Apple saw sales increase by 56% in India in Q1 2016, and by setting up its own retail stores, the company will be able to significantly expand its presence in the country.

Harish Jonnalagadda

The clumsiest man in tech.