Economic Times:
A government panel has recommended exempting Apple from mandatory local sourcing norms, a move which would pave the way for Apple to open single-brand retail stores in the country.
To qualify for this exemption, a company’s product line must qualify as cutting edge technology. In order for a foreign company to own a business in India, they must seek permission if their stake is higher than 49%. This is in addition to the local sourcing exemption for products.
There are currently no Apple Stores in India, so this is an important step.
There are no Apple owned stores in India but plenty of Apple branded stores with varying degrees of quality of service and looks.
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