Apple can now open flagship stores in India thanks to new FDI ruling
Jun20
Earlier this year, Apple was looking to open physical stores in India, but said three weeks ago that it would hold off on its plans unless it was exempted from having to locally source 30 percent of the goods it sold in the country. The company doesn’t have to worry about that anymore. Today, the Indian government decided to relax its foreign direct investment (FDI) norms, allowing foreign companies in select sectors to establish operations in the country, including single-brand retail. That means Apple can now open its stores across the country without hassle. FactorDaily reported last month that the…
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