But it seems the company faces the roadblock of abiding by the 30% local sourcing norm. Apple Inc. CEO Tim Cook's recent India visit seems to be in vain, with the finance ministry insisting that the maker of iPhones and iPads abide by the 30% local sourcing norm if it wants to open branded stores in India. As India emerges as one of the fastest growing markets for Apple, the California-based tech giant had planned to open branded stores in India. Apple can open single-brand retail stores but has to meet the sourcing requirements," the official added. Cook also discussed with India?s two largest carriers Bharti Airtel and Vodafone to work more closely to sell iPhones.

Source: dna May 25, 2016 07:07 UTC