Gadgets

Apple to start online sales in India after government eases FDI norms

Apple Inc. is poised to start online sales of its devices in India within months, a person familiar with the matter said, benefiting from new rules making the world’s fastest-growing smartphone market more attractive to foreign brands.

On Wednesday, India eased rules that forced companies such as Apple to source 30% of their production locally — a requirement the iPhone maker has been lobbying against for years — to include exports as part of the requirement.

That rule posed a problem for electronics brands because most of its devices and components are manufactured in China. The government also allowed so-called single brand retailers to set up online stores before physical shops.

With escalating trade tensions damaging ties between the U.S. and China, New Delhi’s latest investment rules could provide a boost to Apple, allowing it to grow sales in the country and possibly help it reduce its high dependency on China by building out an alternative supply chain in India. Read More

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