The new FDI rule changes by the Indian government allows Apple Store in India. Now the company might eventually start manufacturing in the country under new FDI for retailers outlined on Monday.
The new foreign direct investment rules by the Indian government exempt foreign retailers for three years from a requirement to source 30 percent of the goods sold in company-owned stores locally. That would allow Apple to set up its own shops in India.
India is the world’s fastest growing large smartphone market with sales expected to rise over 25 percent this year. Apple has less than a two percent share in the smartphone market in the country.
