Govt said to clarify Apple’s path to opening own retail stores in India - News Summed Up

Govt said to clarify Apple’s path to opening own retail stores in India


An earlier application failed to get the exemption after a finance ministry department hesitated to take a call on whether Apple products are cutting edge. In June, a senior government official said the administration was seeking a time-frame from Apple for some local production eventually. Officials are keen on encouraging domestic manufacturing under Prime Minister Narendra Modi’s so-called Make in India program. Such a classification would give Apple a three-year exemption from rules that force some foreign retailers to procure 30% of components in India, they said. Apple in India didn’t immediately reply to an e-mail seeking comment.


Source: Mint August 10, 2016 08:26 UTC



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