Prabhu RamIn February Patently Apple posted a report titled “The Lack of Flagship Apple Stores in India is Damaging Apple’s Premium Brand. Then in early May a new rumor surfaced that after the Indian elections there could be some movement on allowing Apple to proceed with their first flagship Apple Store in India. Modi went on to have a big election win. President Trump met with President Modi at the G20 Summit in Osaka and the two countries were positive that their trading relations could improve in 2019.
News from The Economic Times of India today states that India plans to ease local sourcing rules in the single brand retail sector which will help Apple the most amongst other companies in setting up a retail presence that country.
The head of intelligence group at Cybermedia Research, Prabhu Ram stated for the report that “The relaxation of the mandatory 30% local sourcing norm will spur the growth of the Indian economy and will potentially help in attracting large players in the single-brand retail sector, including the like of Apple.”
Source: Patently Apple
