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Apple one step closer to opening retail stores in India

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Apple one step closer to opening retail stores in India

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.

Apple is getting closer to its bid to open retail stores in India. In accordance to India's overseas direct funding norms, overseas manufacturers enterprise single-brand license — which permits them to arrange retail stores and promote merchandise at once to consumers — will have to source 30% of the fabrics in the community. As Apple does now not have a producing facility in India, the corporate has sought to be exempted from the norms, and a central authority committee has signed off at the proposal:

The committee has discovered that the corporate's merchandise are leading edge generation and state of the art. It has really helpful to exempt them from the native sourcing norms.

Apple noticed gross sales increase by 56% in India in Q1 2016, and through putting in place its personal retail stores, the corporate will probably be in a position to considerably enlarge its presence in the rustic.

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