Apple may not open retail stores in India before 2020 even though it’s currently scouting for locations, according to The Economic Times. Why? The Cupertino, California-based company has yet to receive approval from the government for its retail foreign direct investment (FDI) plans, though such approval is expected, the article adds.
Apple wants to open premium retail stores at prime locations either in a mall or high street in New Delhi and Mumbai. The Indian stores will be nearly double than that of its average global store size of 8,500 square feet and will be the biggest single brand electronics store in the country, nearly 7-10 times that of rival Samsung, according to The Economic Times.
The desired size of the stores may also be contributing to the delay. 10,000-15,000 square feet of prime location “is not readily available,” the article adds.
Getting a foothold in India has been a challenge for Apple. The company has opened its retail stores in a number of countries around the world, but not in India. The country has restrictive real estate investment laws for foreign companies.