toggle

AAPL Stock: 122.86 ( -0.52 )

Printed from http://www.macnn.com

Apple Stores coming to India, government official hints

updated 10:50 am EST, Fri January 20, 2012

Domestic investment waiver clears path

Apple could open retail stores in India following a change in local ownership rules, says a senior official with the country's Department of Industrial Policy and Promotion. Apple has been in talks with the department for "some time," according to local business publication Mint, and is allegedly eager to retry the Indian market after having failed to make headway in 2006. Under previous rules, single-brand retailers like Apple would have had to have had at least a 49 percent domestic investment; now they can claim full ownership.

Companies like Apple -- with large amounts of foreign investment -- are still being required to source 30 percent of their product value from small businesses in the country. The DIPP official says, though, that the government might be willing to concede even that if can attract Apple. "Let Apple finalize its business plan and the investment it wants to make. If they tell us that the 30% sourcing is a problem, at that stage we will look into it," he is quoted as saying.

In 2006 Apple considered establishing an Indian technical support center, but quickly withdrew, deciding to build centers in other places instead. The country has since become a burgeoning market for Apple products, but has been limited to resellers, carrier outlets, and stores-within-stores known as Apple shops.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

15-inch MacBook Pro with Force Touch

Apple's 15-inch Retina MacBook Pro continues to be a popular notebook with professional users and prosumers looking for the ultimate ...

Typo keyboard for iPad

Following numerous legal shenanigans between Typo -- a company founded in part by Ryan Seacrest -- and the clear object of his physica ...

Entry-level 27-inch Retina iMac

The 27-inch Apple iMac with 5K Retina display is already one of the best value-for-money Macs that Apple has ever released. It was som ...

toggle

Most Commented