Apple is set to open its first retail store in Mumbai as it bets big on India
A notice outside the store said it would be “arriving soon.” Apple (AAPL) did not immediately respond to a request for further details, such as the opening date. The launch would come more than 20 years since the California-based giant first entered the Indian market through third-party resellers. For years, Apple and other foreign retailers were restricted from setting up shop in the country unless they sourced at least 30% of raw materials locally, forcing them to rely on local partners. That changed in 2019, when the Indian government relaxed some investment rules. In 2020, the company launched an online store in India, allowing customers to buy its products and also, for the first time, customize certain devices. CEO Tim Cook has previously pointed to the importance of starting its own retail network in the country, saying, “I don’t want somebody else to run the brand for us.” Manufacturing base More recently, the company has been ramping up...