Tech giant Apple considers investing Rs219b in India

[ahlam1399]

NEW YORK: US tech giant Apple Inc is considering an investment of around Rs1,000 crore (PKR219.5 billion) in India soon. The iPhone maker has informed the government that it plans to establish an online selling platform as well as open three Apple retail stores across major cities in India over the next two to three years. "There have been meetings with company executives. The first store is likely to come up in Mumbai followed by Delhi and a third location is yet undecided," a govt official told.This development follows the Union Cabinet's decision on Wednesday to relax foreign direct investment norms for several sectors, including single brand retail, to attract foreign investors, and boost economic growth, promote Make in India and generate employment along the way.http://feeds.feedburner.com/~r/com/cwEr/~4/QSPe5IkF_-k

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