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Soon enough, Apple may be able to sell its products from an online store in India. Up until now, the laws have meant that companies who sold products in India could only do so if they sourced 30% of their hardware locally.
The change in sourcing regulations was announced on Wednesday by the Indian government.
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What are the new rules?
The new rules stipulate that all procurements made by India by a single-brand retail company for its own goods will now count as local sourcing. This counts even when the goods are exported.
Companies are now also allowed to open online retail shops before starting up physical stores.
[email protected] to start online sales in India after government eases FDI normshttps://t.co/ngmGq6LsS7pic.twitter.com/Z45Zva3G8Q— Hindustan Times (@htTweets) August 29, 2019
The Economic Times reported that Apple would jump on this opportunity, and might even begin selling their products online in India within the next five months.
Following this, the tech giant is then looking to open its first brick and mortar store in Mumbai between 12 to 18 months.
How has Apple been selling its products in India so far?
Up until now, Apple has turned to e-commerce partners in order to sell its popular products. The likes of Amazon, Flipkart, and Paytm Mall have all been used to sell Apple products in the Indian market.
At the moment, though, Apple only has a two percent market share in India. It's estimated that this number will not rise by a considerable amount with the arrival of its online store - Apple products remain in the higher bracket of goods in India and only a few are able to afford them.
The much lower-priced Android devices are more widespread across India. However, with this change in the law, Apple may have a good reason to tap into the Indian market further and increase its sales in the country.