India has said Apple Inc must meet a rule obliging foreign retailers to sell at least 30 percent locally-sourced goods if it wishes to open stores in the country, a senior government official told Reuters.
This is certainly a setback for Apple.
India has said Apple Inc must meet a rule obliging foreign retailers to sell at least 30 percent locally-sourced goods if it wishes to open stores in the country, a senior government official told Reuters.
This is certainly a setback for Apple.
Good luck building iPhones in India.
They’ll smell like curry with a whiff of chai.
Racism aside, chai scented phones would be so very awesome.
I’d boycott Indian products over this but… what products?
This isn’t the end of the line, it’s the beginning of a negotiation.
“The waiver is available only for investment in “state of the art” or “cutting-edge technology”, he added.”
What parts of current Apple products are not “state of the art” or “cutting-edge technology”? It’s not “just” a watch, phone, tablet, computer..
Sounds like a bigger setback for Indian consumers, like “local content” rules always are.
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Foxconn is building a factory in India so this might not be such a big issue. While I hold stock in Apple and generally support almost everything they do, this was an opportunity for India to use some leverage to make sure that India isn’t just thought of as a retail opportunity but also a manufacturing opportunity. I think in the end it will be a win win.
I think Foxconn sets the standard. If they didn’t think it was possible in India they wouldn’t be building a factory there and investing a lot of money in infrastructure. They also have plants in Brazil and Mexico and those are doing well as far as I know.