India softens foreign investment regulations, woos Apple

Tuesday 21 June 2016 | 08:57 CET | News
India has released new foreign investment rules for retailers. The new regulations pave the way for Apple to resubmit its application and open its first retail stores in India, Reuters reports. The US-based giant currently sells its iPhone, iMac and iPad devices through resellers in India. The new rules exempt foreign retailers for three years from a requirement to source 30 percent of the goods sold in company-owned stores locally. Apple can now also seek an additional 5-year exemption if the government decides that its products meet the 'cutting edge' criteria.

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Categories: General
Companies: Apple
Countries: India
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