Apple may get nod to set up 100% owned stores in India soon

The government is likely to give a nod to Apple Inc's proposal to set up 100 percent owned stores in India as early as next week, say sources. All the ministries concerned are also of the opinion that it be given approval. The tech giant had proposed to open company owned stores in the country after the government waived the requirement for single brand retailers to source 30 percent locally. This exception is only granted to companies that bring in "state-of-the-art and cutting-edge" technology.Watch the video for more.