Soon, you'll be able to buy iPhones directly from Apple
What's the story
Just around iPhone 11's launch, Apple has got the nod to start selling directly in India. The Indian government has eased the regulation that had been keeping the Cupertino giant from selling its products directly to consumers in the country. This means you will soon have the option to buy an iPhone/iPad from Apple's online or offline store, and not from a third-party store.
Requirement
Apple was required to source 30% of production locally
In India, Apple has been selling its devices through third-party vendors/resellers. The practice has helped the company capture just 2% market share, but in order to expand in the world's fastest-growing smartphone market, it needed to start doing its own business. This is what the Indian government had been blocking under FDI regulations that required the company to source 30% of production locally.
Revision
Now, the rules have been revised
As most iPhone components are sourced from China, Apple failed to meet the local production requirements. The company opposed the rule for years, and now, after a long wait, the Indian government has finally heard its pleas. Narendra Modi-led Centre has lowered the amount of local production by allowing the company to factor in products made locally but for export.
Store
Online store to be ready within few months
The changes will ultimately enable Apple to conduct business on its own in India. It already manufactures a range of iPhones in the country and will soon set up its online and offline stores for sales. The online store, the Economic Times reports, will be ready in 3-5 months, while offline retail outlets would open sometime next year in Mumbai.
Advantage
This would benefit both Apple and Indian economy
Apple's online and offline presence in India would come with way more benefits than just boosting the company's sales and market share in the country. First, amid deteriorating US-China trade relations, Indian business will allow the company to build an alternate supply chain to reduce dependency on China. Secondly, Apple's stores will create more jobs in the country, potentially boosting our economy.