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Apple plans to invest INR 1,000 Cr in India to set up its first online retail platform and open three company-owned stores across major cities in the next two to three years.Â
The development came after the government relaxed foreign direct investment (FDI) rules around single-brand retail trade for companies planning to invest and open stores in India.Â
Apple appreciated the government’s move and said that it is working on plans to set up the first company-owned retail store in India, along with an online retail platform.Â
