India Opens The Door For Apple Stores in New FDI Rules
Apple Inc could open its first stores in India and might eventually start manufacturing in the country under new foreign investment rules for retailers outlined on Monday.
The new rules exempt foreign retailers for three years from a requirement to source 30 percent of the goods sold in company-owned stores locally.
That would allow Apple, which currently sells its iPhones, iMacs and iPads through resellers, to set up its own shops in India, ending months of uncertainty for the California-based company that had first applied for store licenses in January.
India is the world's fastest growing large smartphone market with sales expected to rise over 25 percent this year.
For Apple, which has less than a two percent share in the smartphone market in the country, gaining a bigger footp...
