Apple Inc plans to open stores in India. Apple talk with government for opening the Apple retail store in India.
India is one of the fastest growing markets for the Cupertino-based company. In the first three quarters of this fiscal year, Apple’s iPhone sales in India were up 51% year-on-year.
Apple has been demanding the Indian government to do away with domestic sourcing norm for single brand retail.
This year, the company CEO Tim Cook came to India and met directly to Prime Minister Narendra Modi. He discussed the roadblock in company’s India ambitions.
Government had relaxed FDI norms by giving a 3 year exemption from local sourcing to foreign players in single-brand retail and a 5year relaxation for ‘state-of-the-art’ & ‘cutting-edge’ technology.