International smartphone brand Apple will soon launch its own online store in India. This become possible as the Indian government is relaxing the criteria for Foreign Direct Investment (FDI) for single brand retail.
This means that the companies are not obliged to follow the rule that allowed brands to sell via their own stores only if they source 30% of their hardware components locally.
The biggest beneficiary of the new rule is Apple as it can now start selling Iphones, watches and other products online in the country. It is assumed that the company will start selling the products online within the next few months.
Right now Apple sell its products through e-commerce partners such as Amazon, Flipkart and Paytm mall. Apple has now only around 2% share in Indian market.
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