India makes it easier for Apple to open stores in the country

India has made it easier for brands such as Apple to open stores in the country. The Indian government announced Wednesday that global single-brand retailers will no longer need its permission to own and operate stores in the country, reports CNN Money.

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Foreign companies previously needed government approval to own more than 49% of an Indian retail operation, leading many to partner with Indian companies or rely on local distributors and franchises. India's retail market presents a compelling opportunity. It is currently worth around $600 billion, according to a 2017 report by consultancy PwC. By 2020, Indian shoppers could be spending $1 trillion year, it added.

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 there. It looks like that will be changing very soon.