Apple Set to Gain Approval to Open Retail Stores in India: Report

Apple has been lately making moves to get approval to open its own retail stores in India, as it seeks to tap the second biggest smartphone market in the world. In the meanwhile, Tim Cook, the company's chief executive, was recently quoted saying that Apple was was looking to bring its retail stores to the country.

Now, a new report claims that the Cupertino-based giant is on track to get clearance to open its first retail stores in India. The Bloomberg report citing a person with knowledge of the matter suggested that Apple will however have to resubmit the request as it was not in the "right format". The person, who asked not to be identified as the details are not yet public, added that the Indian government has plans to push through Apple's application to set up outlets.

It added that Apple can be expected to qualify as a "provider of cutting-edge technology", which will help 
the company be exempted from a rule that asks foreign businesses retailing a single brand in India to secure 30 percent of a product's inputs locally. Notably, Apple currently makes the majority of its devices in China. Earlier reports said Foxconn, one of Apple's biggest suppliers, has been in talks to manufacture iPhones in India.

Tim Cook, after Apple reported slowing growth in its main markets, said that the company would focus on emerging markets including India. In a town hall meeting at the company's campus, Cook was claimed to share with employees the importance of Indian market. Currently, Apple sells its iPhone, iPad, Mac, and other products via third-party resellers in the country.