Sorry, no Apple stores in India if 30% sourcing norms persist
FollowTim Cook, during his trip to India, had made promises of improved sales and services of their products through its official Apple stores in the country, but this now seems to be a distant dream due to redundant government policies.
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During his India tour, Cook had said that opening Apple stores in India was a key to Apple’s business, as he looked at India as a major growth market for Apple’s iPhones.
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The government, however, was not too pleased with Apple’s request to waive off the mandatory 30 percent sourcing norm for foreign companies and this friction is a major spoke in the wheel to Cook’s plans.
According to an Economic Times report, sources close to the company have said that Apple has no plans of manufacturing any products in India or buy raw materials from Indian vendors in the near future.
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The Commerce Ministry of India, however, has come to the technology giant’s aid lobbying against the central government’s decision.
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While the Government of India is yet to pronounce its final decision, Apple Inc has made its stand clear. The company will not take a step forward without the waiver of the mandatory 30 percent sourcing.
