India is a very lucrative market for tech companies with a population well over a billion. This stands true for Apple too. Apple has been trying to make a real presence in India in the past but couldn’t do so due to certain conditions presented by Indian officials. However, a latest report states that Indian officials may relax the conditions for Apple. And because of this, Apple may launch it’s own retails stores in India very soon. Read more to find out what exemptions Indian officials may grant to Apple.
Earlier when Apple tried to launch it’s own retail stores in India, the major hurdle in it’s way was this condition: India required at least 49% domestic investment. But since then, India has eliminated this condition for all foreign investors. And according to reports, Apple was suddenly interested in the Indian market once again as soon as Indian authorities removed this bar.
However, there’s another hurdle to Apple’s path. Currently, Indian authorities require a major foreign investor to source at least 30% of their product value from Indian small businesses. Apple may not take easy to it and apparently, Apple is planning it’s move to tackle this hurdle. It seems like Indian officials are ready to give Apple a lot of space, even forgo this condition, to allow it to introduce Apple retail stores in India.
According to a senior official of department of industrial policy and promotion, “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.” This clearly shows that Indian authorities are willing to show some flexibility to draw the tech giant to enter the Indian market. Needless to say once Apple makes it’s debut in India, Apple will witness a major bump in the sales of it’s devices.
Image courtesy stefanoost.
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