Apple likely to receive approval to open retail stores in India

After filing applications last month, Apple is on track to receive the necessary approval to open its own retail locations in India, Bloomberg reports. A person with knowledge of the process said the Indian government plans to push through Apple’s application after the company resubmitted it in the proper format, but declined to provide a timetable for final approval. The source said Apple will likely qualify as a provider of cutting-edge technology, exempting the company from rules forcing single-brand retailers to obtain 30 percent of a product’s materials locally — a provision that could have all but doomed Apple’s venture in India, since the company makes most of its devices in China. Spokesmen for Apple and India’s Finance Ministry both declined to comment on the story, but after last month’s earnings call, Apple CEO Tim Cook said he is optimistic India’s business environment will improve and is looking forward to investing in the country.

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