Roger Fingas
Despite rejection by the country's finance minister, Apple still has a chance at opening stores in India in the near future, another high-level government official indicated on Monday.
The issue will be discussed with the finance ministry, commerce and industry minister Nirmala Sitharaman told reporters, according to Reuters. Last week, finance minister Arun Jaitley was said to have ratified a Foreign Investment Promotion Board ruling that Apple shouldn't be exempt from rules requiring foreign businesses with a single-brand store to source 30 percent of components from India.
"We took a line that we wouldn't mind waiving off the local sourcing norm for Apple's high-end products," Sitharaman told the media. "[The] finance ministry has taken a different line. We will talk to them."
If the finance ministry doesn't reverse course, launching Apple Stores in the country could require the intervention of Prime Minister Narendra Modi, who recently met with Apple CEO Tim Cook.
Given the company's wealth and influence, the Indian government likely has strong incentive to encourage Apple's presence. At the same time, however, part of Modi's political platform is the "Make in India" program, designed to spur local manufacturing. While Apple supplier Foxconn is hoping to build an Indian manufacturing facility, it won't be ready for some time even if it is approved.
Charles Martin
Malcolm Owen
William Gallagher
Christine McKee
Wesley Hilliard
18 Comments
I can't help but think that cutting off significantly more advanced foreign technology for political ideals is more likely to make indian businesses less competitive. It's the luddites approach to technology.
What did I say quid pro quo.. There is money to be made and one guy will blink... Sure of that... They always do.
Do China block foreign import of Intel Chips? Instead hoping China will one day catch up with Intel on both architecture and Fab?
The whole idea of 30% sourcing should be for Low End Commodity and High Volume Manufacturing. The whole point of Local Sourcing and some form of protectionism is to create MORE jobs for local.
Sometimes you can just understand why India is still so Far behind China.
Translation: "We need more bribe money before we'll budge. Thanks in advance."
Very familiar with India.
This is a total charade.
Playing tough in public.
In reality, India NEEDS this.
Give these people good jobs and an ability to climb up. Especially the Dalit people.
With Apple's human rights values, lets see them tackle the ridiculous caste system.