Indian minister holds out hope for Apple stores

Apple may still get to set up wholly-owned stores in India, with the country’s Commerce Ministry promising to discuss the matter with the Finance Ministry that had objected to the proposal.

Indian government rules require that foreign-owned, single-brand retailers source 30 percent of their products locally, but the Indian government had indicated that it could provide a waiver of that requirement for branded stores of retailers of high-tech products. Apple had hoped for such an exemption from the government.

On Monday, Commerce and Industry Minister Nirmala Sitharaman said that her ministry did not oppose providing a waiver to high-tech companies like Apple and would discuss the matter with the Finance Ministry.

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