Apple Said to Be on Course for Approval to Open Stores in India

February 9, 2016 Apple, Approval, Be, chief technology officer, Course, for, in, India, on, open, Said, Stores, to

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Apple Inc. is on course to win clearance to open its first retail stores in India, a person with knowledge of the matter said, as Chief Executive Officer Tim Cook seeks growth opportunities in a nation of 1.3 billion people.

The Indian government plans to push through Apple’s application to set up outlets, the person said, asking not to be identified as the information isn’t public.

That would exempt the maker of iPhones and iPads from a rule forcing foreign businesses that retail a single brand in India to procure 30 percent of a product’s inputs locally.

“Most of the growth in India will come from new users coming into the Apple ecosystem, unlike in the West where growth is mainly from existing users upgrading,” said Tarun Pathak, a senior analyst at Counterpoint Technology Market Research, based near New Delhi.

Domestic distributor Redington India Ltd. has dropped about 5 percent since Apple in January confirmed it had applied to open stores in Asia’s third-largest economy.

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