> NEW DELHI (Reuters) - India has said Apple Inc must meet a rule obliging foreign retailers to sell at least 30 percent locally-sourced goods if it wishes to open stores in the country, a senior government official told Reuters.
> Apple is hoping to expand its retail presence in India, one of the world’s fastest-growing smartphone markets, at a time when sales in the United States and China have slowed.
> A change in legislation last year exempted foreign retailers selling high-tech goods from the rule, which states 30 percent of the value of goods sold in the store should be made in India.
> However, Apple’s products were not considered to be in this category, said the official, who has direct knowledge of the matter.
https://www.reuters.com/article/us-apple-india-idUSKCN0YG2LW
> NEW DELHI (Reuters) - India has said Apple Inc must meet a rule obliging foreign retailers to sell at least 30 percent locally-sourced goods if it wishes to open stores in the country, a senior government official told Reuters.
> Apple is hoping to expand its retail presence in India, one of the world’s fastest-growing smartphone markets, at a time when sales in the United States and China have slowed.
> A change in legislation last year exempted foreign retailers selling high-tech goods from the rule, which states 30 percent of the value of goods sold in the store should be made in India.
> However, Apple’s products were not considered to be in this category, said the official, who has direct knowledge of the matter.