“India may have paved the way for Apple Inc. to open stores in the country, but a senior government official says the company hasn’t submitted any detailed plans yet — likely because of local-sourcing rules,” Rajesh Roy and Newley Purnell report for The Wall Street Journal.

“India’s government in June loosened foreign-direct investment restrictions in several sectors,” Ray and Purnell report. “But since June, “we haven’t heard” anything about Apple’s plans, said a senior government official, declining to be identified.”

“That may be because the three-year grace period is actually a tighter restriction than an earlier government proposal, which would have lifted the requirements entirely,” Ray and Purnell report. “Last month, Apple Chief Executive Tim Cook said India was one of the fastest growing markets for the company, and Apple is ‘looking forward to opening retail stores in India down the road.'”

Read more in the full article here.

MacDailyNews Take: Apple in India will be just fine.

SEE ALSO:
Bloomberg columnist: Apple isn’t spending enough time on India – August 5, 2016
Reports of Apple’s death in India are greatly exaggerated – August 5, 2016
India clears path for first Apple Retail Store – July 21, 2016
Indian government expected allow Apple Retail Stores without any sourcing requirement for 2-3 years – June 6, 2016
Indian government discussing waiver to permit Apple Retail Stores – May 30, 2016
Blow for Apple and Indian consumers as Indian government pushes protectionism – May 25, 2016
Blow for Apple and Indian consumers as Indian government pushes protectionism – May 25, 2016
Apple hits setback in push to open retail stores in India – May 24, 2016
Apple’s U-turn in India: From arrogance to servility – May 23, 2016
Apple finds potential new factory hub – in India – May 23, 2016
Apple’s Tim Cook samples Bollywood, cricket, in bid to woo India – May 21, 2016
India shows Apple CEO Cook the love it’s yet to give the pricey iPhone – May 20, 2016
Apple CEO Cook: ‘We are in India for the next thousand years’ – May 20, 2016
Watch Apple CEO Tim Cook at his first cricket game in India – May 19, 2016
Apple opens Maps development office in Hyderabad, India – May 19, 2016
Apple CEO Cook debuts in India – May 18, 2016
Apple to open first-of-its-kind iOS App Design and Development Accelerator in India – May 18, 2016
Tim Cook visits India: Apple to expand its Indian software development center, build local start-up accelerator program – May 17, 2016
Apple Retail Stores to open in India by end of next year – May 16, 2016
iPhone sales surge 56% in India as Apple eats into Samsung’s high-end share – May 8, 2016
Apple deprivileged as India bows to Washington D.C. consensus on mobile phone import tariffs – May 7, 2016
India rejects Apple’s plan to import and sell refurbished iPhones – May 3, 2016