Prime Minister of India Narendra Modi is said to be working on eliminating any issues and conflicts that are causing the delay for Apple in opening its first ever Apple Retail Store in India. There has been a lot of reports that suggests that Apple has been trying to open its retail store in India ever since Apple’s CEO Tim Cook met with the PM last year in September.
According to Tim Cook, India is the next China. It has a huge population and great potential to be among the biggest markets for Apple iPhone sales. Apparently, there’s a law that has so far prevented the Cupertino giant from opening an official Apple Retail store in India.
The people who are close to the PM said that a 3-year deal will be approved by the PM cabinet exclusively for Apple.
The deal will exempt Apple from following the ‘local-sourcing requirements for foreign single-brand retail companies” requirement. According to the new deal, companies with “cutting-edge technology” will be exempted from the requirement of having at least 30% local employees.
Last year, Apple was officially launched in China where it saw great success and now China is the 2nd biggest market of Apple, overtaking Europe. Now, it seems like India might also join the list of biggest Apple markets in the world.
People of India should be excited about this as they can finally have an official Apple Retail Store rather than Apple resellers. This will really help in lowering down prices and getting warranty claims easily. It is expected that the announcement of the 3-year deal will be made in the upcoming days.