Apple may still get to set up wholly owned stores in India, with the country’s Commerce Ministry promising to discuss the matter with the Finance Ministry, which had objected to the proposal.
Indian government rules require that foreign-owned, single-brand retailers source 30 percent of their products locally, but the Indian government had indicated that it could provide a waiver of that requirement for branded stores of retailers of high-tech products. Apple had hoped for such an exemption from the government.
On Monday, Commerce and Industry Minister Nirmala Sitharaman said that her ministry did not oppose providing a waiver to high-tech companies like Apple and would discuss the matter with the Finance Ministry.
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Source: COMPUTER WORLD