Apple on course to open stores in India

Apple (NASDAQ:AAPL) is on course to win approval to open stores in India, according to a source close to the matter. The Indian government plans to push through the retailer's application to set up outlets in the nation of 1.3 billion consumers.

The company is actually resubmitting the request, which originally was not in the correct format, reports Bloomberg. But Apple is expected to get approval to sell its technology. If it qualifies as a provider of "cutting-edge technology," Apple would be exempt from the country's rule forcing foreign businesses that sell a single brand in India to procure 30 percent of the product's inputs locally. (Most of Apple's devices are made in China.)

CEO Tim Cook is looking to expand internationally after a decline in sales last month for the first time in more than 10 years.

"Most of the growth in India will come from new users coming into the Apple ecosystem, unlike in the West where growth is mainly from existing users upgrading," Tarun Pathak, a senior analyst at Counterpoint Technology Market Research, told Bloomberg. "You can expect the stores to focus mostly on iPhones."

Currently Apple uses re-sellers in India. Last month Cook said that he's optimistic that India's business environment will improve and that he wanted to step up investment there.

Under the leadership of Angela Ahrendts, Apple's senior VP of retail and online stores, shops have undergone design changes and expanded internationally. Globally, Apple has more than 460 stores in 16 countries. Last month the company announced the opening of its 33rd location in China.

For more:
-See this Bloomberg article

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