{"id":18870,"date":"2016-06-20T15:57:56","date_gmt":"2016-06-20T10:27:56","guid":{"rendered":"http:\/\/officechai.com\/?p=18870"},"modified":"2016-06-20T16:00:15","modified_gmt":"2016-06-20T10:30:15","slug":"govt-relaxes-fdi-norms-apple-stores-can-now-open-in-india","status":"publish","type":"post","link":"https:\/\/officechai.com\/news\/govt-relaxes-fdi-norms-apple-stores-can-now-open-in-india\/","title":{"rendered":"Govt. Relaxes FDI Norms; Apple Stores Can Now Open In India"},"content":{"rendered":"<p><span style=\"font-size: 12pt; color: #000000;\">Apple CEO Tim Cook had returned disappointed after his India visit last month, when days after his whirlwind trip\u00a0it had <span style=\"color: #33cccc;\"><a style=\"color: #33cccc;\" href=\"http:\/\/officechai.com\/news\/apple-stores-india-regulation\/\" target=\"_blank\">emerged<\/a><\/span> that Apple wouldn&#8217;t be allowed to set up its iconic Apple Stores in India. India&#8217;s FDI regulations mandated that\u00a030% of components must be locally sourced if a company wants to sell through its own retail stores, and Apple products, which manufactured primarily in China, didn\u2019t meet this criterion.<\/span><\/p>\n<p><span style=\"font-size: 12pt; color: #000000;\">All that is set to change as today India announced\u00a0sweeping reforms to rules on foreign direct investment which may have cleared the way for Apple to open stores in the country. The government has <span style=\"color: #33cccc;\"><a style=\"color: #33cccc;\" href=\"http:\/\/www.hindustantimes.com\/india-news\/modi-govt-approves-up-to-100-fdi-in-defence-aviation\/story-gaPkcT3ZjFWsmdsNV0et8I.html\" target=\"_blank\">relaxed<\/a><\/span> the\u00a0condition that stipulates companies to source at least 30% of their components or merchandise for being eligible to set up company-run retail stores in India. There&#8217;s one caveat to this rule though &#8211; companies must prove that their products are state-of-the-art. Apple, being the most valuable company in the world and being known for its cutting edge technology, shouldn&#8217;t have any problems getting past this hurdle.<\/span><\/p>\n<p><span style=\"font-size: 12pt; color: #000000;\"><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-large wp-image-15220\" src=\"https:\/\/i0.wp.com\/officechai.com\/wp-content\/uploads\/2016\/02\/c08cd647-8034-4cce-bca2-6f666bf91128-2060x1236.jpeg?resize=640%2C384\" alt=\"First ecstatic customers leave Apple store in London with new iPhone 6\" width=\"640\" height=\"384\" srcset=\"https:\/\/i0.wp.com\/officechai.com\/wp-content\/uploads\/2016\/02\/c08cd647-8034-4cce-bca2-6f666bf91128-2060x1236.jpeg?resize=1024%2C614&amp;ssl=1 1024w, https:\/\/i0.wp.com\/officechai.com\/wp-content\/uploads\/2016\/02\/c08cd647-8034-4cce-bca2-6f666bf91128-2060x1236.jpeg?resize=300%2C180&amp;ssl=1 300w, https:\/\/i0.wp.com\/officechai.com\/wp-content\/uploads\/2016\/02\/c08cd647-8034-4cce-bca2-6f666bf91128-2060x1236.jpeg?resize=600%2C360&amp;ssl=1 600w, https:\/\/i0.wp.com\/officechai.com\/wp-content\/uploads\/2016\/02\/c08cd647-8034-4cce-bca2-6f666bf91128-2060x1236.jpeg?w=1280 1280w, https:\/\/i0.wp.com\/officechai.com\/wp-content\/uploads\/2016\/02\/c08cd647-8034-4cce-bca2-6f666bf91128-2060x1236.jpeg?w=1920 1920w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt; color: #000000;\">Apart from Apple, other single-brand retailers like furniture giant IKEA are also expected to benefit from this ruling.\u00a0In other changes, India allowed 100 percent foreign direct investment (FDI) in civil aviation, and defence contractors will now get the right to own local operations outright, up from 49 percent previously.<\/span><\/p>\n<p><span style=\"font-size: 12pt; color: #000000;\">During his visit to India, Tim Cook had met\u00a0a whole gamut of Indian celebrities including <span style=\"color: #33cccc;\"><a style=\"color: #33cccc;\" href=\"http:\/\/officechai.com\/news\/apple-ceo-tim-cook-india-visit-2\/\" target=\"_blank\">filmstars<\/a><\/span>\u00a0and\u00a0politicians, and had even watched an <span style=\"color: #33cccc;\"><a style=\"color: #33cccc;\" href=\"http:\/\/officechai.com\/news\/after-temple-visits-and-parties-with-bollywood-elite-tim-cook-watches-the-ipl\/\" target=\"_blank\">IPL match<\/a><\/span> at Kanpur. With the government coming out with a new policy a month after that visit, all that socializing\u00a0seems to have paid off after all.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Apple CEO Tim Cook had returned disappointed after his India visit last month, when days after his whirlwind trip\u00a0it had emerged that Apple&#8230;<\/p>\n","protected":false},"author":1,"featured_media":15220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[202],"tags":[],"class_list":["post-18870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Govt. 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