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Author Topic: Apple is one step closer to setting up its retail stores in India  (Read 291 times)
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« on: July 08, 2019, 04:05:21 pm »

Apple is one step closer to setting up its retail stores in India

The Indian government relaxes local sourcing norms, paving the way for Apple to set up its stores in the country.



What you need to know

Indian government relaxes 30% local sourcing norms for brands looking to set up stores.
The government will instead make exceptions for brands that provide 'cutting-edge technology'.
The move allows Apple to set up its retail stores in the country.
Apple hasn't had much to celebrate in India of late, but 2019 is becoming a turning point for the company. The Indian government has signed off on two key factories, allowing Apple to locally manufacture iPhones. That's a huge deal because India has a prohibitive 30% import tax on devices that are imported from other markets, and local assembly allows Apple to negate that tax.

Another development is around Apple's ambitions to set up a retail store in the country. India's local sourcing norms — which required a brand to source 30% of its comonents locally — disallowed Apple from setting up ...

Source: Apple is one step closer to setting up its retail stores in India
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