India is considering relaxing local sourcing norms for foreign companies selling their own brand only. This move will help the California-based tech giant finally open Apple Stores in the country and avoid import duties of 20%.
If everything goes well, Mumbai will soon get the first Apple Store in India. Single-brand retail outlets in India have been delayed due to the government’s local sourcing norms. This decision came amid crucial talks between India and the US at the G7 summit. On Saturday, the Modi government said that it will continue to seek to build strong economic ties with the US for long-term growth.