Apple is one step closer to opening first-party retail stores in India, its increasingly significant market with population of 1.3 billion people, with a new Bloomberg report claiming that India’s finance minister Arun Jaitley has approved a proposal that clarifies how Apple could open retail stores without initially having to source components locally.
Last month, the cabinet of Prime Minister Narendra Modi approved a three-year extension on local-sourcing rules that require foreign firms wanting to run their own local retail stores to source at least 30 percent of components within the populous country.