India creates new path for Apple to open stores | iLounge News

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India creates new path for Apple to open stores

After last month’s news that India was clearing the way for Apple to open retail locations, the country’s finance minister has approved a proposal exempting the company from local sourcing requirements, Bloomberg reports. An anonymous source said the new rules will give India’s information technology ministry the authority to label a retailer of a single brand as a “cutting-edge technology” provider, opening a new path for Apple to gain a three-year exemption to the country’s requirement that it obtain 30 percent of its product materials locally. Apple can now reapply to open stores in India after failing to gain the exemption on its first attempt.

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