Apple to start online sales in India soon with local sourcing rules eased

The new investment rules could provide a boost to Apple, allowing it to grow sales in the country and possibly help it reduce its dependency on China by building an alternative supply chain in India

International News: Apple Inc is poised to start online sales of its devices in India within months, a person familiar with the matter said, benefiting from new rules making the world’s fastest-growing smartphone market more attractive to foreign brands.

On Wednesday, India eased rules that forced companies such as Apple to source 30% of their production locally — a requirement the iPhone maker has been lobbying against for years — to include exports as part of the requirement.

That rule posed a problem for electronics brands because most of its devices and components are manufactured in China. The government also allowed so-called single brand retailers to set up online stores before physical shops.

With escalating trade tensions damaging ties between the US and China, New Delhi’s latest investment rules could provide a boost to Apple, allowing it to grow sales in the country and possibly help it reduce its high dependency on China by building out an alternative supply chain in India.

The Cupertino, Calif-based device and services company will begin selling its iPhone, iPads and Apple Mac computers online in the coming months. It’s also firming up the Mumbai location of its first company-owned brick & mortar store in India — likely to open next year — the person said, asking not to be identified as the details are confidential. Selling online will be a big step forward for Apple in a country where counterfeit products abound in online platforms increasing buyers’ distrust….

Sikkim standoff: China's economic stakes in India is no worry for Beijing

India may hold the promise of a big market for China, but that promise is yet to be fulfilled

 

The sikkim standoff between India and China over a border dispute in the Sikkim region has given rise to speculation over how the latter would respond to the situation. The Chinese leadership has ruled out any talks with India until the Indian troops vacate what it considers to be its territory. In response, the Indian foreign secretary has noted that differences should not become disputes between neighbours.

But the stalemate continues, bringing into sharp focus its impact particularly on China’s economic ties with India. On social media including many WhatsApp groups, a campaign is already on to show how Indians can respond to China by rejecting goods that are produced in that country and sold in India.(economy policy)

It is a campaign charged with nationalistic emotion. But how seriously can such a campaign really impact Chinese exports or investments? To assess that, it is important to look at some numbers on India’s trade with China and the flow of Chinese investments into India.

There is no doubt that Chinese direct investments in India have been rising steadily. From being the 37th largest foreign investor in India in 2011, it has now scaled up to the rank of the 17th largest foreign investor in 2017.

 INDIA-CHINA foreign trade

That appears to be a fast rise in the pecking order, but actually the size of total Chinese investments in India and the annual flows are very little, almost insignificant either as a share of India’s total foreign investment or as a per cent of China’s total investments abroad.

Consider the following numbers. Between April 2000 and March 2017, India received cumulative foreign investments of over $332 billion. Of this, however, China’s share is only $1.63 billion. In 2010-11, China invested only about $2 million in India. That year, India had received total foreign direct investments (FDI) of over $14 billion..

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Full text: Govt using CBI to target my son, alleges Chidambaram post raids

Chidambaram alleged that the Modi govt was trying to muzzle his voice

Former Union minister P Chidambaram said that Tuesday’s Central Bureau of Investigation (CBI) raids at his and his son, Karti Chidambaram’s, residences were an attempt by the Modi government to muzzle his voice.

While no official word has come from the CBI, sources have said that the raids were conducted in connection with the Aircel-Maxis probe, where Chidambaram’s role as then finance minister in granting Foreign Investment Promotion Board (FIPB) approval to the deal has been called into question. Recently, the Enforcement Directorate (ED) had also searched Chidambaram’s house.

In his official statement regarding the Tuesday morning raids, Chidambaram said that the Modi government was using the CBI and other agencies to target his son. The Congress leader alleged that the government was trying to silence his voice and stop him from writing against its policies and actions.

“FIPB approval is granted in hundreds of cases,” the statement said, adding, “Every case was processed according to law and approval was granted or refused in accordance with the recommendations of the FIPB consisting of five secretaries to the Government of India.”

Below is the full text of his official statement:
FIPB approval is granted in hundreds of cases. The five Secretaries who constitute the FIPB, the officials of the FIPB Secretariat and the competent authority in each case are the public officials. There is no allegation against any of them. There is no allegation against me.

Every case was processed according to law and approval was granted or refused in accordance with the recommendations of the FIBP consisting of five Secretaries to the Government of India.

The government, using the CBI and other agencies, is targeting my son and his friends. The government’s aim is to silence my voice and stop me from writing, as it has tried to do in the cases of leaders of Opposition parties, journalists, columnists, NGOs and civil society organizations. All I will say is, I shall continue to speak and write. |READMORE…

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