Apple one step closer to opening retail stores in India

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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.

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