Apple plan's to open new iconic stores in India

Apple Has a ₹1kcr Retail Plan in Store

To set up online selling platform, and open three of its iconic stores in India in 2-3 years  

Apple,the marketer of iPhones, has told government officials that it plans to invest

close to ₹1,000 crore in setting up its online selling platform, and opening three of its iconic retail stores across major cities over the next two or three years .

"There have been meetings with company executives. The first stores is likely to come up in Mumbai followed by Delhi and a third location is yet undecided".

Local Brands, Pvt Labels to Gain from Easier FDI Rules

Homegrown brands and private labels such as fabindia, chumbak and urbanladder will now be able to easily raise foreign funds for their ventures with 100% FDI being approved in contract manufacturing .

According to the new FDI policy:

Foreign Direct Investment

FDI is an investment from a party in one country into a business or corporation in another country with the intention of establishing a lasting interest.

Lasting interest differentiate FDI from foreign portfolio investments, where Investors passively hold securities from a foreign Country.

Foreign direct investment can be made by expanding one's business into a foreign Country or by becoming the owner of a company in another country.